Known as the intentional or unintentional release of information that must stay confidential, a data breach is something that companies try to avoid at all costs, an incident that puts their prestige, reputation and overall security in jeopardy. At the moment, you can expect more cases like this due to the overly digital world we’re living in right now, illegal actions coming from political activists, criminal organizations and even governments.
It happened to Equifax in September 2017, where a large group of cybercriminals gained access to more than 145.5 million consumers’ data in the United States, information about their social security numbers, addresses, driver license numbers, and full names; a disastrous event in which nearly 209,000 consumers’ credit card credentials were taken viciously, and some argue that this number reached up to 2.4 million individuals.
Recently, the New York Times reported that those who were affected by this breach need to re-assess their security measures in regards to their credit report, in case that their files are still locked by TrustedID Premier, a new monitoring service provided by Equifax that will see its last days at the end of the month
Used to prevent the aperture of new fake accounts within the platform, TrustedID will expire before January 31st. Right now, Equifax is suggesting the use of a new and different service called “lock & alert”, which is free and it is supplied by their own team of security experts.
“If consumers don’t relock their files, and if they haven’t used another option, they’re still going to be very vulnerable.” Said Paul Stephens, Clearinghouse director of policy.
Security freezes being now free of charge by (federal) law, are becoming the new tool of choice because of the principal benefit they offer: With them, your rights are guaranteed by legislation, on the other side, credit locks achieve the same goal, but the rules are dictated by the bureaus, making the sector a lot more uncertain.
The name of IDnotify has been present in lots of discussion panels lately, due to the fact that Equifax is developing a more close relationship with Experian in order to deliver a whole year of free credit monitoring to help victims by using the mentioned service. Let’s see what the future holds for both sides of the argument.