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Cybercrime has been a problem since the internet was invented, and it hasn’t died down. In fact, it continues to grow each year. In 2022 alone, more than 422 million people were affected by cybercrime in the United States. That’s a 40% jump from the previous year.
It’s a dreadful experience learning that your personal information has been exposed in a data breach. It’s worse than losing your wallet. At least when you lose your wallet, you can cancel your cards. When hackers get access to your personal data, they get more than just a brief joyride. In many cases, they can get your bank account information, tax filings, name, address, social security number, phone number, and even your healthcare records.
One breach can snowball into fraud, debt, and many years of cleanup if you don’t address it head-on. If you’ve been notified that your personal data has been leaked, you need to take action now.
1. Confirm the breach and what was exposed
Before you do anything, verify what data was compromised. Hackers don’t need your entire life story to ruin your financial life. Even just a phone number or email address can fuel phishing attacks. But a full Social Security Number leak can be devastating. That’s why it’s crucial to know exactly what was leaked so you can figure out exactly what to do.
It’s also worth knowing you might have legal options if a company mishandled your data. Don’t hesitate to talk to an attorney about your case. Consumer protection law firms exist to help data breach victims hold negligent companies accountable.
To get the full scoop on the breach, don’t just read an email and leave it at that. Check the company’s page for an official announcement and look for the breach on the FTC’s website. Most importantly, verify that any email notifications came from the real company. Attackers often piggyback on breaches by sending fake security notifications. You can also check Have I Been Pwned to see if the breach is in their database. If you can’t find specific information, call the company directly or send them a letter requesting the information.
2. Freeze your credit
A credit freeze is the best protection against identity theft after a data breach. Nobody can open credit in your name under a freeze. Unlike a credit lock, it’s fast, free, and takes effect immediately. You’ll want to freeze your credit with Equifax, Experian, and TransUnion. Each credit bureau offers online freezing portals to make it easy.
Once you freeze your credit, you’ll be given a PIN to manage the freeze, so keep these in a secure location. Nobody can bypass the freeze without your PIN.
3. Change passwords and enable 2FA
Even if only one login was leaked, assume attackers will try to use your information to access multiple accounts. Change your passwords immediately. Reports have found that 81% of breaches leveraged stolen or weak passwords. If you used the compromised password anywhere else, it’s just a matter of time before those accounts get hacked as well.
In addition to changing your passwords, enable multi-factor authentication everywhere you possibly can.
4. Monitor bank accounts
Hackers don’t always use your information right away. Sometimes they wait weeks or even months. Keep an eye out for strange activity for a while so you can catch fraud before it does damage.
Look for microtransactions that can indicate test charges, accounts you didn’t open, and weird vendor names you don’t recognize. It’s easy to spot fraudulent activity when you sign up for a service that will give you free weekly credit reports.
5. Consider legal action if the breach was preventable
In most cases, a data breach was preventable. Many incidents happen because someone cut corners or didn’t set up security properly. When a company fails to protect your data, you might be entitled to financial compensation, so consult an attorney right away.
From the minute you learn about the breach, start documenting everything related to your situation. Keep track of alerts, expenses, and the time you spend trying to manage or fix the issue. If you file a lawsuit, you’ll need to prove damages, and your time and energy might be included in that calculation.
Act fast
Data breaches can be scary, but moving fast to freeze your credit and secure your accounts can make a huge difference. The faster you lock down your accounts and update vulnerable logins, the harder it becomes for anyone to misuse your data.
