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It’s pretty tough when it’s a small business that has a security breach but when one of the 3 major credit reporting agencies has a security breach, it is a major problem. Especially for the more than 143 million Americans recently affected by the Equifax breach. That's nearly half of the entire country that was exposed in the security breach at Equifax. The personal information lost includes; Names, addresses, Social Security numbers, birthdates, and driver license numbers.
It’s crucial to stay proactive in securing your information to ensure it isn’t misused by hackers. If you are one of the hacked, keeping track of all your credit cards and other accounts will be vital in finding a breach sooner 
rather than later. Here’s some tips to help you stay proactive.
* Statements. Be sure to carefully review all of your bank, credit card, and investment statements, etc. Hackers sometimes start with a small charge or withdrawal that you may not even notice at first, thinking maybe it was a purchase or withdrawal that you have forgotten about. Also, don’t forget to review cards that you may not use often for charges you didn’t make.
* Review credit reports. Look for suspicious items on your reports. Were there any new accounts opened in your name? Check all 3 credit reporting agencies: Equifax, Experian and TransUnion. You can get a free annual report from each agency by visiting www.annualcreditreport.com. It may be a good idea to stagger these reports, perhaps one from each of the agencies every 4 months. Be aware that there will be a small fee for frequent checks.
* Check the Equifax website. Go to www.equifaxsecurity2017.com and enter your last name and last 6 digits of your Social Security number. The website will tell you the likelihood that your data was exposed as well as put your name on a list to send you more information. You can also sign up for free credit monitoring for one year.
* Credit freeze. If you have reason to believe you are or will be a victim of identity theft, you can go to each of the 3 credit reporting agencies and freeze your credit. This will prevent new accounts from being opened in your name. However, if you want to have your credit accessible for a personal loan or for a future employer, it will be up to you to unfreeze your accounts.
* Income Taxes. According to the Better Business Bureau, the most common scam in 2016 was identity theft. The IRS warns that it’s become quite common for thieves to try to claim your tax refund using your personal data. Filing early may lessen the likelihood of having your refund stolen.
At Summit CPA we offer multiple resources to assist you with all of your financial need. For assistance contact our office at (866) 497-9761 to schedule an appointment with our advisors.
