Equifax Data Breach Tips and Info

Posted on: November 1, 2017
Tags: Member News-Events

Sharonville Chamber Member / Executive Director Business Solutions - ID Shield

On September 7th, Equifax announced that 143 million peoples’ (nearly half of the U.S. population) identities have been compromised between May and July of this year. Stolen information includes names, social security numbers, birthdates, addresses, driver’s license numbers, and credit card numbers.

This breach has the potential to impact half of your workforce, resulting in additional stress, distraction, absenteeism, and lowered productivity, Research shows it takes an average of 6 months and 200 hours of work (some estimate as many as 500 hours) to resolve your own identity theft issue impacting your employees greatly. Time that you want your employees focusing on work.

Due to the way it handled this breach, Equifax should be perceived as untrustworthy for hiding this breach for 6 weeks while three of their senior executives sold Equifax shares worth almost $1.8 million in the days following the discovery of the breach. In order to address the issue, Equifax is offering one year of free credit monitoring with another division of their own company called TrustedID.

Warning - Equifax is providing a link to share with your employees in order to determine if their information was compromised. It requires them to enter their last name and the last six digits of their social security number. If they click the “ENROLL” button, it will automatically enroll them. Now their personal information is available to the very organizations that failed to guard against the original breach.

In the short video below, Morgan Wright, U.S. State Department, Senior Antiterrorism Advisor, talks about the significance of this breach, why you shouldn’t use TrustedID and why he has selected IDShield as the service of choice to handle Identity theft.

This will be a stressful time for many of your employees knowing that their personal information may be bought, sold and traded with the uncertainty of what will happen next. If there is a silver lining to this it’s that your employees should be motivated to take action now in anticipation of the next security breach.  Please find the attached .pdf that provides helpful tips on how employees can protect their personal information.

Ron Chambers

Executive Director Business Solutions

D: 513-407-6501

Tf/f: 877-875-8203

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