Recent data breach activity has prompted attention to cyber security and identity protection options. Purchasing identify theft protection, freezing one’s credit and/or taking advantage of Equifax’s offer for free one-year Identity Theft Protection and Credit File Monitoring are personal choices.
At a minimum, Sterneck Capital Management encourages clients to remain educated on potential identity fraud issues and options at hand. We also encourage clients to take prudent steps to self-monitor their credit report activity by taking advantage of the free credit reports available annually from each of the credit reporting companies (Equifax, TransUnion and Experian).
The Fair Credit Reporting Act (FCRA) requires each of these nationwide credit reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. Consider requesting a free report on a rotating and regular basis every four months (example: Equifax in September, Experian in January, TransUnion in May).
There can be a lot of misinformation found on social media and talk shows. Take steps to ensure the sources of your information are reputable and accurate. The following links provide specific updates on the recent breech directly from Equifax, as well as report-monitoring options and guidance from government sites
- Equifax Update: Theft Protection & Credit Monitoring
- Free Credit Report Overview: Consumer.ftc.gov Free Credit Reports
- What to do about errors or identify theft suspicions: ConsumerFinance.Gov Dispute Errors
- When identify theft is confirmed: Identitytheft.gov