equifax data breach

FS ALERT: Equifax data breach

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Matt McKenna

Underwriting Manager


Equifax data breach

On Thursday, September 7th, consumer credit reporting agency Equifax announced they had been the target of a data breach. According to the agency, the records of 143 million Americans have been compromised by an attack which was discovered on July 29th.

Stolen data include names, birthdays, addresses, social security numbers and (in over 200,000 cases) even credit card numbers. This is some of the most valuable data that can be sold on the black market. Thieves can use this info to tailor a phishing attack to your particular weaknesses. In worst case scenarios, this info could be used as the foundation of an effort to steal identities.

By law, the company is required to offer credit monitoring and identity theft protection services to consumers who could’ve been affected. Equifax most likely has a cyber liability insurance policy which will pay for these services on their behalf. The litigation, fines and penalties that follow will probably also be covered by their cyber liability insurance.

To check if you are one of the affected Americans, visit https://www.equifaxsecurity2017.com/ before November 21st. You will be asked to give your last name and the last 6 digits of your social security number, and will then be given a date to return for enrollment in the service.

 

Interested in hearing more about how you can protect your company from the financial and reputational effects of data breaches?

Talk to us! You can contact us at info@foundershield.com or create an account here in order to get a quote for a cyber liability insurance policy.

Want to read more on the subject?  Check out our blog posts on cyber liability insurance.

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