Identity Theft

What To Do About Equifax Data Breach | CNBC

What To Do About Equifax Data Breach

How consumers can protect themselves from any credit risk after Equifax's data breach.

As many as 145 million people are affected by Equifaxs data breach and Mark Grossman, tech lawyer, and Robert Siciliano, cyber security expert are sharing  tips what to do about it .

Many People are asking How would I protect myself against something like this and according to Equifax Data Breach I am potentially affected 

 I researched my information on the Equifax security 2017.com address and there it popped up that they want me to invest in their credit monitoring service, which you know is kind of funny that they're offering credit monitoring where they got breached.???

The best thing to do here is to engage in what's called a credit freeze after Equifax Data Breach.

 A credit freeze locks down your social on your credit report preventing anyone from opening up any new lines of credit via your social in your credit report so a credit freeze really is the best way to go .

So a credit freeze again educating me here, if I do a credit freeze  what dose that do ???

Equifax security 2017

Equifax Data security 2017

 Do I go to a bank? who-who do i initiate that with .?

 Great question!?

  • so if you go to all of the three major credit bureaus Experian TransUnion Equifax .
  • search the term credit freeze on the site that way you'll get to the page in which you administer a credit freeze so on their website you go on
  • You plug in your information along with your social which it's okay to do and once you do that they'll provide you a username and a password so your credit is now frozen across the board and when you want to get credit.


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let's let's say you're going to go to automobile dealership they're gonna check your credit you want to thaw your credit prior to going to the dealership and then just for a day or two and then it refreezes automatically and it does not negatively affect your credit score's .

what if you're in process of buying a house for example I mean there's a lot of a lot of things here to know package

Let me just bring one of the interesting wrinkles that is on CNBC's website right now is that, if you were if you entered your information into this Equifax Data Breach website they put up to try to help people to figure out if you were affected ,you could potentially be signing away your right to litigation.?

 "Absolutely true"

There's an inherent ambiguity in the online Terms and Conditions that Equifax  has.

 In connection with the service they're offering for free,if you click I accept and it is conceivable that you've given away remedies including the class-action ,it's outrageous is this clear from the which no it is it it's an ambiguity .

if I were negotiating this agreement on behalf of a large company in a deal with Equifax Data Breach, I'd ask him to clarify I would call upon the CEO of Equifax to just make the ambiguity go away he could wave a magic wand change the language of his hip his lawyers can't do it call me I'll be happy to do it Mark Grossman sad .

 The CFPB  also today trying to sort of push the company to sure not restrict this.

I've been wondering just as a broader legal matter , what is a company's responsibility in terms of putting up defenses to try to prevent an incursion like this Equifax Data Breach.

Mark Grossman added  it seems to be no standard on that there's no standard it's vague best practices best-of-breed ,we use words like that but here's the problem this is like the fire house burned down they are the credit reporting agency ,they have all this data there's already a class-action filed in connection with this thing and basically the the simplistic argument of this complaint is they were more concerned with their profits ,than spending money on proper cybersecurity but here's the problem.

 it's a reality no matter how much they spent on cybersecurity there are no guarantees this is like burglary ,we don't like it it hurts but it's not going away it's a part of life .

  1. Mr.Robert  mentioned  that you know credit freeze is one thing people can do do you think the biggest risk from this hack would be something like that we know obviously how to deal someone takes your credit card everybody's been through that what are some of the other things you need to be watchful for ?

so always be aware of activity on your credit cards which a couple of hundred thousand credit cards will compromise in this particular Equifax Data Breach as well.

 what I do is?

 I sign up for alerts and notifications via my card company and bank's website which means that every time there's a charge every time there's a withdrawal I get a text message or an email alerting me to that fact, so I know all of my charges in real time that keeps everything tuned every time .

This way I know if my wife has just made a large charge I get a text message and I'm away when it happens and I could contact her to make sure that I was her that did it.

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