Have You Been Hacked?

Has your personal information been hacked? It seems every time you turn on the news a place of business has been hacked. Though most states require that a company notify its customers about a data breach, there are still some states that don’t require notification. Here are a few steps that you should take to protect yourself.

* Reset all of your passwords once a month. This will help you defend against even more breaches if a data thieves are looking around on-line.

* Keep a close eye on your bank accounts. Look for any unauthorized transactions that might be related to your credit or ATM cards. Although this is vitally important if your data has been breached, it is also something that you should do on a regular basis anyway.

* Order a free copy of your credit report. The federal law requires that all 3 major credit reporting bureaus provide one free credit report annually. This free copy will serve as a pre-fraud reference point in the case of fraud. When you get your reports you should carefully check for errors and any suspicious activity on each report.

* Major credit reporting bureaus. When you find unauthorized transaction on your debit or credit card you should also contact the 3 credit reporting bureaus. These 3 major credit reporting bureaus offer to attach a “fraud alert” to your accounts free of charge and will share the alert with the other two companies. Your initial alert is will be attached to your account for 90 days making it more difficult for the data thieves to open any new accounts in your name.

* Legal liability for credit cards. The federal law limits your credit card liability to $50 for any fraudulent transaction on your account. Once again, report any suspicious activity immediately to the credit card company.

* A full blown target. If for some unfortunate reason you’re the target of an individual case of identity theft the damages could very easily spread to all or most of your other accounts. If this is the case you may want to ask that all 3 major credit reporting companies “freeze” your line of credit. By freezing your line of credit it will be less likely that anyone can open new accounts in your name. However, it will also mean that any potential creditors will not be able to access your credit report. Freezing your line of credit should be used as a last resort.

Be vigilant in checking your statements each month to ensure that you aren’t a victim of fraud. Investigate and report any suspicious activity in your accounts. For more tips and all of your financial needs contact our office at (260) 497-9761 to schedule an appointment with our advisors.