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Security News, Exploits, and Vulnerabilities.

Survey: Americans Spent $1.4B on Credit Freeze Fees in Wake of Equifax Breach

Almost 20 percent of Americans froze their credit file with one or more of the big three credit bureaus in the wake of last year’s data breach at Equifax, costing consumers an estimated $1.4 billion, according to a new study. The findings come as lawmakers in Congress are debating legislation that would make credit freezes free in every state.

The figures, commissioned by small business loan provider Fundera and conducted by Wakefield Research, surveyed some 1,000 adults in the U.S. Respondents were asked to self-report how much they spent on the freezes; 32 percent said the freezes cost them $10 or less, but 38 percent said the total cost was $30 or more. The average cost to consumers who froze their credit after the Equifax breach was $23.

A credit freeze blocks potential creditors from being able to view or “pull” your credit file, making it far more difficult for identity thieves to apply for new lines of credit in your name.

Checked Your Credit Since the Equifax Hack?

A recent consumer survey suggests that half of all Americans still haven’t checked their credit report since the Equifax breach last year exposed the Social Security numbers, dates of birth, addresses and other personal information on nearly 150 million people. If you’re in that fifty percent, please make an effort to remedy that soon.

Credit reports from the three major bureaus — Equifax, Experian and Trans Union — can be obtained online for free at annualcreditreport.com — the only Web site mandated by Congress to serve each American a free credit report every year.

The Market for Stolen Account Credentials

Past stories here have explored the myriad criminal uses of a hacked computer, the various ways that your inbox can be spliced and diced to help cybercrooks ply their trade, and the value of a hacked company. Today’s post looks at the price of stolen credentials for just about any e-commerce, bank site or popular online service, and provides a glimpse into the fortunes that an enterprising credential thief can earn selling these accounts on consignment.

Fear Not: You, Too, Are a Cybercrime Victim!

Maybe you’ve been feeling left out because you weren’t among the lucky few hundred million or billion who had their personal information stolen in either the Equifax or Yahoo! breaches. Well buck up, camper: Both companies took steps to make you feel better today.

Yahoo! announced that, our bad!: It wasn’t just one billion users who had their account information filched in its record-breaking 2013 data breach. It was more like three billion (read: all) users. Meanwhile, big three credit bureau Equifax added 2.5 million more victims to its roster of 143 million Americans who had their Social Security numbers and other personal data filched in a breach earlier this year. At the same time, Equifax’s erstwhile CEO informed Congress that the breach was the result of even more bone-headed security than was first disclosed.

To those still feeling left out by either company after this spate of news, I have only one thing to say (although I feel a bit like a broken record in repeating this): Assume you’re compromised, and take steps accordingly.

Here’s What to Ask the Former Equifax CEO

Richard Smith — who resigned as chief executive of big-three credit bureau Equifax this week in the wake of a data breach that exposed 143 million Social Security numbers — is slated to testify in front of no fewer than four committees on Capitol Hill next week. If I were a lawmaker, here are some of the questions I’d ask when Mr. Smith goes to Washington.

Experian Site Can Give Anyone Your Credit Freeze PIN

An alert reader recently pointed my attention to a free online service offered big-three credit bureau Experian that allows anyone to request the personal identification number (PIN) needed to unlock a consumer credit file that was previously frozen at Experian.

The Equifax Breach: What You Should Know

It remains unclear whether those responsible for stealing Social Security numbers and other data on as many as 143 million Americans from big-three credit bureau Equifax intend to sell this data to identity thieves. But if ever there was a reminder that you — the consumer — are ultimately responsible for protecting your financial future, this is it. Here’s what you need to know and what you should do in response to this unprecedented breach.

A Life or Death Case of Identity Theft?

Identity thieves have perfected a scam in which they impersonate existing customers at retail mobile phone stores, pay a small cash deposit on pricey new phones, and then charge the rest to the victim’s account. In most cases, switching on the new phones causes the victim account owner’s phone(s) to go dead. This is the story of a Pennsylvania man who allegedly died of a heart attack because his wife’s phone was switched off by ID thieves and she was temporarily unable to call for help.

SSA: Ixnay on txt msg reqmnt 4 e-acct, sry

The U.S. Social Security Administration says it is reversing a newly enacted policy that required a cell phone number from all Americans who wished to manage their retirement benefits at ssa.gov. The move comes after a policy rollout marred by technical difficulties and criticism that the new requirement did little to prevent identity thieves from siphoning benefits from Americans who hadn’t yet created accounts at ssa.gov for themselves.

OPM Breach: Credit Monitoring vs. Freeze

Many readers wrote in this past week to say they’d finally been officially notified that their fingerprints, background checks, Social Security numbers, and other sensitive information was jeopardized in the massive data breach discovered this year at the Office of Personnel Management (OPM). Almost as many complained that the OPM’s response — the offering of free credit monitoring services for up to three years — won’t work if readers have taken my advice and enacted a “security freeze” on one’s credit file with the major credit bureaus. This post is an attempt to explain what’s going on here.

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