5 Steps to take after a data breach
Data breaches are almost as frequent as celebrity breakups. According to Risk Based Security’s Mid-Year Data Breach Report, there were 1,767 publicly reported breaches in the first half of 2021, exposing 18.8 billion records. If a data breach has compromised your personal information, these are the 5 steps to take after a data breach.
Step 1: Read all notices from the compromised company
A breached business will generally contact all potential people to notify them of the exposure. It may also advise them about the next steps. Also, if you believe your personal information is part of the breach, ensure you read everything from the exposed company.
Step 2: Alert your financial institution
Next, contact your credit union. This way, we’ll know to watch for signs of fraud. We’ll be watchful for any significant transaction or withdrawal and be in touch if we notice any suspicious activity.
Step 3: Change your passwords
Passwords are also a concern when there is a data breach. And it’s best to change as many as possible after a breach to keep information and money safe. Start by changing passwords you are sure were a part of the breach.
Step 4: Consider a credit freeze
A credit freeze will alert lenders and credit companies to the fact that you may have been a target of fraud. In addition, this added layer of protection will make it difficult, or impossible, for hackers to open a new credit line or loan in your name.
Step 5: File an identity theft report
If you believe your identity is compromised, file an identity theft report with the Federal Trade Commission (FTC) as soon as possible.
Take these precautions to protect your information from future data breaches:
- Monitor your credit for suspicious activity regularly.
- Also, use strong, unique passwords for each account and opt for two-factor authentication when possible.
- Never share sensitive information online; always keep your security and spam settings at their most robust levels.
You know what to do if you receive a letter that your personal information is part of a data breach. With these, 5 steps you should take after you have been part of a data breach. And, if you like this post, make sure you check out our MoneySmart Tips blog.
