How to Protect Your Personal Financial Data
It was recently reported that up to 5,000,000 individuals may have been affected in a data breach at Saks Fifth Avenue and Lord & Taylor. These cybercriminals were able to gain access to credit and debit card numbers using a software program that was connected to the cash register systems. This incident is yet another example of how vulnerable your personal information is to theft.
If you believe your personal information was compromised, there are several immediate steps you can take to secure your personal financial data, including:
- Obtain a credit report: Annualcreditreport.com offers free credit reports from the three, main credit reporting agencies at Equifax, Experian, and TransUnion.
- Apply for a credit-monitoring service. Most banks offer a credit monitoring service to customers for a nominal, monthly fee.
- Freeze your credit. A credit freeze can be requested for a nominal fee from all three credit-reporting agencies.
- Request a fraud alert. If freezing your credit is not a viable option, a fraud alert may be requested from the three credit reporting agencies.
- Closely monitor all your financial accounts (bank, credit card, investments, loans, etc.).
If you or your business have been affected in any way from the Saks and Lord & Taylor Data Breach or need guidance and advice with cybersecurity matters, the advisors of LB Goodman & Co are here to help.