Data Breach Protection | blog.firstffcu.com

In our digital world, data breaches are an unfortunate reality – affecting millions each year. These incidents expose sensitive information and can lead to financial fraud and identity theft. If you’ve been notified of a data breach or suspect your information may have been compromised, follow these crucial steps to safeguard your financial security.

1. Save Notifications & Respond Promptly

If a company or service provider informs you that your data may have been compromised, be sure to keep that notification. Breached companies are legally required to inform affected users and often provide next steps to secure your information, or contact information for credit bureaus and departments that can offer more guidance. This information can also serve as a record if you need to document or report future issues.

Immediately change your login information and passwords connected to the affected account(s) and remove any banking or credit card information that may be stored within the account(s). If the breach affects accounts tied to financial information, immediately begin securing your bank accounts and monitoring for suspicious activity.

2. Strengthen Account Security

Start by updating passwords on any accounts tied to the breached organization. For strong security, each account should have a unique password with a mix of letters, numbers, and symbols. If possible, use a password manager to store these securely and reduce the risk of previously used or weak passwords.

For added security, enable multi-factor authentication (MFA) on all accounts. This extra step, such as a verification code sent to your phone, makes it harder for unauthorized users to access your information, even if they have your password.

3. Set Up Fraud Alerts

Adding a fraud alert to your credit report signals to creditors that you may be a victim of fraud, prompting them to take extra steps to verify your identity when a new credit request appears. Contact any one of the three major credit bureaus — Experian, TransUnion, or Equifax, or create an online account to set up free fraud alerts. This alert will automatically apply to all three bureaus and remain active for a year, giving you added protection against fraudulent activity.

4. Monitor Your Financial Activity and Credit Reports

Carefully monitor your financial statements, bank accounts, and credit card activities for unusual transactions. Many financial institutions, including First Financial – offer free transaction alerts available through our mobile app, allowing you to catch unauthorized activity early.

Additionally, check your credit report regularly. You’re entitled to a free credit report each year from each bureau at AnnualCreditReport.com. Frequent reviews of your report can help detect unauthorized loans, new accounts, loan applications, or address changes that could indicate identity theft.

5. Consider a Credit Freeze

For those seeking a stronger defense, a credit freeze restricts access to your credit report, making it harder for new accounts to be opened in your name. You can apply a freeze by calling or creating online accounts with each of the 3 credit bureaus at no cost, and lift it temporarily if you need to apply for credit yourself. A freeze doesn’t affect your existing credit cards or loans, but it’s an effective barrier against unauthorized new accounts.

6. Be Aware of Phishing and Scams

Data breaches often lead to an increase in phishing attempts where criminals pose as reputable institutions to trick you into sharing more information. Beware of emails, calls, or texts from unfamiliar contacts or even those posing as your financial institution. Anyone who asks you for sensitive information or points to an unidentified link should be treated with extreme caution. Indicators of phishing include urgent requests, generic greetings, and suspicious sender addresses. When in doubt, reach out to the company or your bank directly using a verified contact method rather than interacting with suspicious messages.

7. Stay Vigilant and Consider Identity Protection Services

If you want an additional layer of protection, some individuals choose identity theft protection services such as Norton LifeLock ID Navigator – which is an included benefit for users of our VISA Signature Cash Plus Credit Card. These services monitor credit activity, provide alerts, and may even offer insurance to cover certain identity theft related losses.

Secure Your Finances with First Financial

Taking immediate action after a data breach can reduce the chances of financial harm and identity theft. At First Financial, we’re committed to helping you protect your financial future with resources and support to keep your information safe. For more personalized financial guidance, call us at 732.312.1500 or visit a branch. And don’t forget to subscribe to our First Scoop blog for more helpful tips on managing your finances and staying safe online.

In light of recent retailer data breaches and with credit and debit card fraud becoming more frequent, be sure to read and follow these 8 steps to protect yourself and your identity from being stolen.

1. Be sure to get a new replacement credit or debit card if yours was compromised. If you suspect fraudulent transactions on your card and your financial institution hasn’t contacted you or provided you with a replacement card – be sure to call and request one.

2. Check your bank account and credit card activity online to see whether your card was used at any retailer that was recently hacked. Don’t wait for your print statement to come in the mail; check the latest account activity digitally with online access to your account information or by using a mobile banking app. Also watch out for changes to your debit card PIN.

3. Be alert for post-breach phishing attempts. Hackers don’t always get everything they need to break into your accounts, so they will typically send you emails or even call on the phone and pose as your bank or card issuer to try to trick you into giving up the missing pieces, including mother’s maiden name, account username and password, date of birth, and Social Security Number. Do not give this information out – your bank will never call, text, or email you for the information you already provided when you opened your account.

4. Lock down your credit report with a security freeze, which essentially shuts off access to your credit history by new would-be lenders. If a hacker applies for a loan in your name, the creditor is less likely to approve it if he or she can’t see your credit file. Freezes are typically free for victims of identity theft.

5. Get as many free credit reports as you can per year so you can regularly monitor them and keep an eye out for fraudulent new accounts. You can get three free credit reports (one from each credit bureau) from annualcreditreport.com.

You’re also entitled to a free credit report from each bureau after you file a 90-day fraud alert, which you should do every 90 days if you’ve been a victim of a data breach, or have a good-faith suspicion that you’re about to become a victim of identity fraud.

6. Change your passwords regularly on your various financial accounts and use strong passwords to thwart hackers and protect yourself online.

7. Don’t panic, but take a breach threat seriously, because this problem is now a fact of life until the big payment card brands, banks, and retailers improve the security of payment processing systems in the U.S.