Protecting Your Credit After A Data Breach

Today we're going to discuss the massive data breach that was reported last week and what we can do to protect our families and our good name. All of that and more ahead on The Secure Dad Podcast. When I read about the 78 percent increase in data breaches from 2023, it feels very concerning. Big companies like T-Mobile, Xfinity, and PeopleConnect have had major incidents. But none of that is your fault. Your data was exposed because you were a customer in the wrong place at the wrong time.

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Today we're going to talk about the National Public Data Breach, and how it affects people in the United States, Canada, and the UK. While this may seem like a really large problem that's too big to affect you and me, sadly that is not the case. We are very much involved in this. Last week, Bloomberg Law broke a story about a class action lawsuit that alleges National Public Data suffered a breach of billions of of pieces of personal information.

The breach is alleged to have been the work of a hacker group called U. S. D. O. D. That does not stand for the United States Department of Defense. National Public Data is a broker who provides information on background checks for hiring and things of that nature. They are also supposed to help with data management and security. So, whoopsie.

The court documents go into great detail of the types of information that have been exposed, like names, social security numbers, addresses, phone numbers, family members, and a lot more. But here's the catch. The information that was breached may not be complete. It may not be accurate, or it could be somebody's exact details. We really don't know. Plus, only some of the information has been leaked online, so everyone is just trying to figure out exactly what has happened here.

But the bad news is, the breach reportedly occurred in April. Means that some of our data has been available for months before we even knew anything about it. I think a lot of people just don't know what to do right now. I don't blame them. So I'm going to help you through that. So what does all of this mean to you personally? Well, in simple terms, it means a scammer can gather enough information on you to convince companies and other people that they are you.

A scammer could apply for new lines of credit, open a new utility account, have a medical procedure, believe it or not, and a whole lot more. Our credit check system is so poor that anybody can pretend to be you on a bad day. But now all of this real information is now available, and it's gonna be really, nearly impossible. to prove that you are in fact you. And consider the fact that your social security number will not change, scammers can wait years to target you.

And worse, the data may include children who may not know their credit has been ruined until they're 18. Plus, I believe that people who have died have their data in this breach too. So if you've had a loved one pass away in the last 12 months, make sure that all the paperwork has been filed because their good name is at risk. Not to mention the living children and spouses of those people may be affected.

So it's not an understatement to say that this is a pivotal moment and data protection history.

The first thing that I want to encourage you to do is freeze your credit. Typically your credit is open and can be searched 24/7. If you want to buy a new car or a house, your credit is ready to be searched. That is done as a convenience, but if you're not making a major purchase, then you can freeze your credit so that it can't be checked by anybody. And if it can't be checked, then no new accounts and no new purchases can be done.

But if you need to make a big purchase, you can unfreeze or THAW the accounts to be checked. Yes, THAW is actually what they use. So freezing your credit Is a good idea. People were already doing this. I've been promoting it for a long time. Even if you were somehow not involved in this hack, which is going to be kind of hard to believe. This is still just a good idea to do. Freezing your credit is actually pretty simple. There are two routes that you can take. Technically there are three.

You can do it online, you can call them directly, or you can mail some forms in. You will personally need to get in touch with Experian, TransUnion, and Equifax yourself. Don't pay another company to do this for you. Freezing your credit is absolutely free. Now Experian has an app that is really simple to use once you set up your account, but for TransUnion and Equifax, I actually suggest that you call them directly. The whole thing can be done on the phone and it's automated.

I froze my credit with Equifax in around eight minutes. It's completely free to do, and it only costs you your time so you can absolutely get this done. Some of the information that you're going to need to provide is your social security number, your date of birth, home address, and a few other things to confirm your identity. Generally speaking, this is not hard to do.

You might be wondering, actually, since it's not hard to do, if a scammer can use this breached data to unfreeze your account, my thoughts there are maybe, but there are some real time verifications that need to happen in this process that you'll see when you do it. But I won't say that that can't be done. So that's a fun thought, but this is what we have for now. Next, you can monitor your credit report. You have the right to see your credit report and download that information.

The best way to do it is to go to AnnualCreditReport.com. I've done it, and it's quick and easy to review the transactions that have determined your credit score. Of course, if you see something that's wrong, you can report it and try to remove it from your credit, and they have a whole team of people that will help you mitigate that. You can also contract out with a company to monitor your stuff so that you can get fraud alerts and things like that.

So far at this point, this has actually been pretty easy to do.

But freezing your kid's credit is a little bit harder If your child has a social security number, then they are at risk for fraud. I know this seems odd, and it does not make any sort of sense, but it happens every day. Kids don't need their credit until they're 18, so scammers frequently target kids for fraud. Generally, people don't monitor their accounts, and it's pretty easy to fake.

There are lots of teens who find out that their credit is bad because they were ripped of when they were 7 years old. You don't want that to be a problem when your child applies to college or tries to buy a new car. Now, I've done an entire podcast on this topic because, frankly, I froze my son's credit a few years ago. Then, earlier this year, I got a letter from an institution that said my son's data was compromised in a small, local breach. I can personally attest that this is important.

It was really good to know that my diligence had paid off. And your child's credit will stay frozen until you thaw it, or until the child turns 16, and then they can unfreeze it themselves. So, it's a win win situation for everybody. I've also created a step by step guide on how to freeze your child's credit. You'll need to gather personal information, paperwork, proof that you are the parent guardian, all that sort of stuff.

Then you're going to have to physically mail it all in to all three credit bureaus. None of it can be done online. But I've done it. And if I can do it, you can do it. You can download the free guide at the link in the show notes. Now some people have been very apathetic about this whole thing. Maybe they don't understand, or they don't care, or they're just afraid. So let's say this data breach is not as bad as it could be.

If you do what we've talked about here, at worst you've frozen your credit for you and your family members. That is not a bad thing. People have been doing that all along. If this breach doesn't expose all of your data, then the next one may. We're talking about making three phone calls and giving up one hour of your life to freeze your credit. I've long said that freezing your child's credit is a good thing to do because scammers target kids.

Trust me, freezing your credit is much easier to do than to repair your good name after you've been scammed, if you even find out about it.

As we've discussed today, the recent data breach has exposed a lot of personal information about people, including their social security numbers. This puts all of us at a significant risk for identity theft and financial fraud. The key steps to protect yourself include freezing your credit, monitoring your credit reports, and placing fraud alerts. Don't forget to take the same precautions for your children. These actions are crucial to safeguarding your financial future.

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Well, this concludes our episode for today. Thank you, friend, for listening. Get your copy of my guide on how to freeze your child's credit. There's a link for you in the show notes. Take back your privacy and personal data with help from DeleteMe. Get 20 percent off a privacy plan when using the code DAD at checkout. Fortify your home with FlipLok. For more, go to FlipLok.com and use the discount code SecureDad to get 20 percent off your entire order.

For more from The Secure Dad, consider subscribing to the official Secure Dad YouTube channel. There you can watch all of my interviews and find exclusive content. Just search for The Secure Dad the next time you're on YouTube. I'm Andy Murphy reminding you that our safety is our own responsibility.