Protect Yourself - Social Security Data Breach
The recent massive Social Security data breach could potentially leave millions of Americans vulnerable after Social Security numbers and other personal information were compromised.
What Happened?
This news was first shared following a class action lawsuit that was recently filed. The Florida-based company, National Public Data, was the target of this breach. National Public Data collects information for background checks on consumer and job applicants. The company initially reported that 1.3 million people were affected. However, the lawsuit claims that the records of up to 2.9 billion people, which included Social Security numbers of both the living and deceased individuals, were stolen.
How Can I Protect Myself?
Unless you have an immediate need to access credit, you should consider freezing or locking your credit files. To determine what option might be best for you, we encourage you to read the following article - Credit Freeze and Credit Lock: What's the Difference? There is typically a cost associated with a credit lock, while a freeze is free. The benefit of a freeze is that it prevents lenders from accessing your credit report. Lenders will typically not extend credit without first accessing your credit report.
You can contact the Federal Trade Commission (“FTC”) and the national consumer reporting agencies for more information on fraud alerts, security freezes and other steps you can take to avoid identity theft:
- Equifax, P.O. Box 105788, Atlanta, Georgia 30348, 1-877-478-7625, www.equifax.com
- Experian, P.O. Box 2002, Allen, TX 75013, 1-888-397-3742, www.experian.com
- TransUnion, P.O. Box 2000, Chester, PA 19016, 1-800-680-7289, www.transunion.com
- Federal Trade Commission, Consumer Response Center, 600 Pennsylvania Avenue, NW, Washington, D.C. 20580, 1-877-FTC-HELP (382-4357), www.ftc.gov/idtheft
Additionally, you may want to consider enrolling in an identify theft protection program to further protect what you have worked for. Identify theft protection companies offer services to monitor identify theft and to assist in the recovery process if identity theft occur.
We've outline several top identify theft protection companies:
Our Team at Covenant Wealth Strategies is trained in cybersecurity and prioritizes protecting our clients' financial interests by closely monitoring all transactions and accounts under our management. Our security policy requires verbal confirmation from any client seeking to move money in or out of their account(s). If we see money moving without verbal consent, we will take immediate action and inform the client(s) impacted.
We've outlined additional best practices and ways you can continue to protect yourself below:
PASSWORD MANAGERS:
Password Managers are a good way to manage and store the multitude of passwords we utilize daily for various online sites. Consider using a reputable password manager with state-of-the-art encryption to help you better manage them and stay secure.
Keeper | www.keepersecurity.com
ANTI-VIRUS | MOBILE SECURITY | ANTI-SPAM:
Anti-virus is a vital tool in your arenal of defenses against malware and needs to be kept current and up to date. All devices need to be protected, irrespective of manufacturer. Consider installing a reputable provider.
BitDefender | www.bitdefender.com
The following will assist with reducing the number of spam calls and texts received; however will need to be updated regularly.
Truecaller | www.truecaller.com
The following will help to protect your mobile device from viruses, malware, and rogue apps:
Lookout | Apple Store/Google Play
McAfree Mobile | Apple Store/Google Play
Sophos Intercept | Apple Store/Google Play
VIRTUAL PRIVATE NETWORKS (VPNs):
VPNs are essential, particularly on any public network, including travel lounges, hotels, coffee shops, and other public locations. Consider using a reputable provider with many servers around the globe which utilizes good security and installs on your mobile devices, laptops, tablets, and desktop.
Express VPN | www.expressvpn.com
NordVPN | www.nordvpn.com
TorGuardVPN | www.torguard.net
TunnelBear | www.tunnelbear.com
VyprVPN | www.vyprvpn.com
By following these tips and maintaining vigilance in your online activities, you can significantly reduce your risk of falling victim to cyber threats. If you have additional questions about cybersecurity or have financial planning needs, we encourage you to Contact Us.
Disclosures:
Securities and advisory services offered through LPL Financial, a registered investment adviser, Member FINRA/SIPC.
Source: https://www.experian.com/blogs/ask-experian/whats-the-difference-between-credit-freeze-and-a-credit-lock/
Ileana van der Linde, J.P. Morgan Asset & Wealth Management, Covenant Wealth Strategies and LPL Financial are separate entities and do not represent each other.
The information contained herein regarding any specific product does not constitute or imply endorsement, recommendation, or favoring by JPMorgan and is only for educational and awareness purposes. Created and developed by the Cyber Advisory Team | Version Date: 1/10/23.
This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change.