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09-07-2017, 06:58 PM
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EQUIFAX DATA BREACH
According to news, big cybersecurity breach of 143 million customers. NBC had link to below site. They offer 1 year free monitoring. Is this needed, or just scheme to hook you into paying for service after free year? What say you techies? Thanks
Cybersecurity Incident & Important Consumer Information | Equifax
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09-07-2017, 07:24 PM
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You need to find out if you are affected.
So I Jumped through the hoops.
I am not a Robot, much.
Punched in the requested data.
I get an enrollment date of 9/13/2017!
Apparently the line is already long.
I recommend that you sign up for the 'complementary identify theft
Rotection and credit file monitoring service and find out if your personal information may have been impacted.'
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09-07-2017, 07:25 PM
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Wife saw the notice on TV and got the info. I figured better to be safe than sorry so I signed up for it. They ask for minimal information.
Last edited by Huskerguy; 09-07-2017 at 07:26 PM.
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09-07-2017, 07:30 PM
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This is just one more reason that I can't wait until my wife retires and we can ditch the cards, loans, etc. and go back to a simpler cash paid time.
Last edited by Jessie; 09-07-2017 at 07:31 PM.
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09-07-2017, 07:56 PM
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Quote:
Originally Posted by Jessie
This is just one more reason that I can't wait until my wife retires and we can ditch the cards, loans, etc. and go back to a simpler cash paid time.
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That will not prevent criminals from using your data to create new accounts for you.
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09-07-2017, 08:28 PM
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I have been in the financial services industry for 26 years. The offer of a credit guard protection plan is the standard response to these types of breaches. They have no idea who will be attacked and who won't. Take the plan and monitor you credit closely. These things can flare up long after the breach occurs. The crooks aren't stupid and they know how to obtain credit without creating a flag to the victim. Generally, the victim is made aware then they begin receiving collection contacts regarding delinquent debt. At that point, the consumer must provide the lending institution evidence of the fraud. It is a real pain in the a** for the consumer. If you are affected the Credit Reporting Agency should flag your profile. You may request the CRA to note on your file that you require verification of any credit application prior to approval. This is usually done when someone is a repeat victim of ID theft. This is a serious situation. People tend to overlook the implications until it happens to them. The CRA should be notifying affected individuals as well. On another note, in the event you are the victim of card account number theft the credit issuer is required to update your file that the delinquent items are disputed. The issuer must resolve the dispute within 60 days. It is important to note that you must dispute these items in a timely manner. The timelines are outlined in your card member agreement. THe timeframe is usually 60 days. Check your statements closely and often. I will update any additional info I get on this when I get back to work. I have been on vacation this week.
Last edited by llowry61; 09-07-2017 at 08:38 PM.
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09-07-2017, 08:34 PM
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Quote:
Originally Posted by kwselke
That will not prevent criminals from using your data to create new accounts for you.
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That may be, but it will be the financial institutions problem since we won't be a participant anymore.
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09-07-2017, 08:44 PM
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llowry61, the problem with what you're saying is that a person is responsible for financial info used without verification by the institution giving the money. Unless there is gross negligence on behalf of the party being swindled, the financial institution is responsible for verifying the identity of the party receiving that money.
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09-07-2017, 08:52 PM
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Quote:
Originally Posted by Jessie
That may be, but it will be the financial institutions problem since we won't be a participant anymore.
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Well, not really. Just because you aren't "participating" in any financial institutions or using credit cards or have no loans...that's pretty much immaterial.
Just because you stop being part of the system...your data and personal info won't just magically disappear from all the databases. Its shelf life is infinite...floating around out there on the information highway. Your info, if it's been stolen or compromised, can still be used to create fake accounts and stuff charged to them. You'll eventually be able to prove it isn't you, but still...it'll cost you money and time and lots of stress and aggravation.
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09-07-2017, 08:53 PM
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I asked my wife who is a CFA and bank officer and she gave me no clear answer, so disregard my opinion. That's all it is.
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09-07-2017, 08:55 PM
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BTW - there are only 323 million men women and children in the US. If 143 million people were affected, it stands to reason that this is almost anyone who has a credit profile.
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09-07-2017, 09:05 PM
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Quote:
Originally Posted by Jessie
That may be, but it will be the financial institutions problem since we won't be a participant anymore.
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Not even close. Do you own your home? Do you have a car? Any savings?
If someone steals your identity, and racks up charges or loans against your property, you may find yourself being charged for loan payments, taxes, liens, all before you realized what happened. I worked with teams that seized assets for unpaid debts. It is a brutal way to wake up in the middle of the night.
You may be able to prove you were not at fault in time, but between those two points in time ....
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09-07-2017, 09:14 PM
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Quote:
Originally Posted by Jessie
llowry61, the problem with what you're saying is that a person is responsible for financial info used without verification by the institution giving the money. Unless there is gross negligence on behalf of the party being swindled, the financial institution is responsible for verifying the identity of the party receiving that money.
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You are correct the individual whose identity was stolen would not ultimately be responsible for the money that was fraudulently obtained from the lending institution. The problem that arises is the lending institution believes they have given the money to you, since the fraudster stole your identity. These individuals can obtain all the docs necessary to appear as though they are you. It is the headache and the bureaucratic hoops the consumer must jump through to get it corrected.
There have been additional regulations instituted in this area to protect consumers from this nightmare scenario. A few years ago, it was very difficult to get all of this corrected. It is getting better today, but there a thousands and thousands of disputes and ID theft claims. Some are valid and many aren't. The lenders have to determine which are valid and respond appropriately and timely pursuant to reg z.
As far as billing error notice clauses within your agreement are concerned, a consumer may in fact be liable if they fail to notify the lender per the agreement. When I refer to a billing error I am referring to a fraudulent charge. There are other types of BEN's, but this is the most common. The clause exists because the credit card companies can't always obtain the necessary documents to research the disputed charge. The merchants are only required to retain docs for a certain period of time. Generally aligned with the billing error clause.
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09-07-2017, 09:14 PM
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That's not even close either. It may end up a lawyers dream, but it will never happen.
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09-07-2017, 09:18 PM
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Without responding to any post in particular, this is very scary. I've been getting all my retirement stuff in order. You would be appalled what can be done with the mentioned data.
I found a 401K that had never had the address changed (employer mess in 1992). The statements went into oblivion (an address that never had anything to do with me), but over the years contained enough detail. I discovered that someone pretending to be me had poised the account to pay to them at my 65th. Fortunately I've retired early, and not realizing that I was not getting updates, I called them and triggered the requirement that I go into an office with a mass of paperwork to get it early. Hopefully the (out of state) miscreant will be prosecuted by the financial company (they have the legal basis, I don't, since I beat them to it).
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09-07-2017, 09:24 PM
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Jessie, all peoples thoughts are appreciated and important. Thanks for weighing in on the subject. I just want to help people avoid a big problem if they can.
Sincerely,
L
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09-07-2017, 09:46 PM
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Equifax only monitors for 1 year free. Then they charge you to "protect" you from their negligence. To get the one year free, I'll bet the fine print gives away your right to sue for damages. Thank goodness the IRS and Obamacare databases are secure. Not long ago, if somebody wanted to steal records they could. They were limited by how many they could carry and had to physically break in a building to do it. Now the teenager on the other side of the world can steal and sell millions of records, never leaving their parents basement.
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09-07-2017, 10:08 PM
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I have Identity Theft & Credit Protection from Experian.
A few years back T_Mobile was hacked and customer data exposed.
T-Mobile gave every customer at the time of the breach 2 years of the Experion Identity Theft & Credit Protection.
Mine will be expiring soon so I'll be shelling out the $79/yr to continue coverage.
When I applied for the Academy,Gander Mtn and Cabelas credit cards I immediately got alerts that my info was being used and if it was me.
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09-07-2017, 11:01 PM
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All I get is an enrollment date? No 'You've been hacked' or 'safe' info.
This is really annoying, they go on and on about using strong passwords, but then sites are hacked and info is stolen anyway!
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09-07-2017, 11:37 PM
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Something similar to this happened to me and evidently a whole lot of GNC customers.
I got an email saying my password was changed and I didn't authorize the change then call their 1-888 number to report it. So I called and was on hold for 30 minutes listening to GNC ads before I finally hung up. I figured I would call later in the night when there might be less callers.
So I get a hold of them and I ask the guy what private info might have been breached on my account. I said I didn't appreciate my account was not protected from hackers. He then told me that GNC actually is who reset my password. He said if a customer doesn't set up an account then GNC computers apply a password on an account they set up under my name.
I told him that was bull ........that their doing that was causing people to worry about their information might have been hacked. He said he wouldn't tolerate my swearing. I told him cancel any account they set up under my name and GNC will never see another dime from me. I told him take me off their mailing list because I will send any future emails to spam. I then hung up.
This IMO was the most ignorant thing GNC could do. I will never do business with them again.
About an hour later I get another email from GNC saying my password was changed again. I sent it to spam folder.
Now I hear about this. I really wonder what to think about everything anymore. Is even the credit bureau trying to scam people?
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09-08-2017, 12:42 AM
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Quote:
Originally Posted by S&W ucla
They offer 1 year free monitoring. Is this needed, or just scheme to hook you into paying for service after free year? What say you techies?
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Yes, needed.
No, not a scheme.
Many ID Theft products now even have an App so you can track things right from your smart phone. At least the one my company offers does.
I learned about this from the ID Theft product I'm enrolled in. Got their notification about noon today.
Last edited by hittman77; 09-08-2017 at 12:44 AM.
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