Last month, National Public Data confirmed a data breach compromising 2.9 billion records of personal information. Names, addresses, emails, even social security numbers were compromised for billions of people. The NPD incident is one of the largest data breaches to date, but unfortunately, it is not the only one. Companies like AT&T, Ticketmaster and Bank of America have all suffered similar breaches in 2024.
So where does that leave you? (Other than feeling anxious over the idea that your personal information could be out there, somewhere on the dark web, waiting to be sold to the highest bidder?) While we cannot prevent data breaches from occurring, we can take necessary steps to protect ourselves, our children, and our families from being victims of identity theft and financial exploitation.
Consider Freezing Your Credit: A credit freeze prevents anyone from opening a new line of credit in your name. To complete a credit freeze, contact each of the three credit bureaus (Experian, Equifax, and TransUnion), create a profile, and complete the credit freeze process. Just remember, if you decide to take out a new line of credit - such as signing up for a new credit card or applying for a mortgage, you will need to thaw your credit prior to application.
Monitor your Credit Report: Did you know that you can obtain a free credit report every year from all three bureaus? By reviewing your credit report yearly, you can be sure it is correct and dispute any items that do not belong to you.
Monitor your Financial Accounts: Keep a close eye on your bank accounts for unauthorized activity. Identity theft also includes the theft of your accounts or account numbers. Online Banking is extremely convenient to keep a close eye on your bank accounts to see if anything is amiss.
Make the Switch to E-Statements: Mail theft has become extremely popular, so if you receive your statement through the postal service, there is a possibility that the sensitive information of a bank statement may be stolen. Making the switch to an electronic statement takes the risk out of your statement falling into the wrong hands through the mail process.
Using Strong Passwords Online: When creating passwords for online accounts, always use a strong password that includes letters, numbers, and special characters. Avoid using anything obvious like names of family members, pets, or anything significant to you that can be found on social media. It is also recommended that you use a password phrase instead, such as: prot3ct_y0ur_!dent!ty. The more complex the password, the harder it is to crack.
Enable MFA whenever possible: Multifactor Authentication (MFA) is an authentication method that requires two or more verification factors to gain access to a resource such as an app, online account, or VPN. While having a strong password is beneficial, enabling MFA when it is available is a critical step in protecting your identity as it reduces the risk of account takeovers and provides additional security for users and their accounts.
Ignore unexpected phone calls, emails, and text messages: If you receive communication from a source you do not recognize, do not respond without doing some investigation first. Never click on any type of link in the communications or open any type of file that they may have sent – scammers often use these methods to phish for your information.
-Melissa Teeter, Horicon Bank Security Officer