Don’t trust Equifax!
Why? Because at current count they have lost 143 Million individuals critical personal identifiable information- name, SS#, birth dates, addresses, and in some instances, driver’s license numbers, credit cards & unknown docs from disputed issues. The identity thieves can now become you. In response to the loss the company is offering their own monitoring service free for a year-now here is one catch, if you can get through to the site to enroll, you may not want to give additional personal information to an entity that was just breached.
Pay particular attention to the auto renew section of this contract, it appears that monthly charges for the Equifax product begin automatically in the 13th month, unless you cancel. You will find also find that one of the terms requires you to agree to a mandatory arbitration clause waiving rights to take legal action against Equifax (this may be changing in response consumer complaints and but may be state specific). A law has been introduced in the US House to roll back mandatory arbitration agreements and also capping potential damages claims, and eliminate punitive damages against them entirely,
Lastly the CEO & several top execs sold considerable stock after the Equifax data breach but before this went public. They deny any knowledge of the breach which either makes the C suite totally incompetent or liars.
How will this impact you?
You are Vulnerable! Forever (not just for a year)! The thieves have all your info to become you and commit identity fraud – aside from financial fraud, they can get medical services, new drivers licenses, work, commit tax fraud, etc. – all as you. They know the answers to your security questions. It will be extremely difficult to prove the identity theft crime committed was not done by you. How is an entity that was defrauded, going to believe it was not done by you? You simply look like just another scammer.
To be safe, I suggest you limit or terminate any contact with Equifax.
To get another opinion of this disaster watch the clip highlighted below.
CNBC: US State Department Antiterrorism advisor: How to protect yourself from Equifax’s data breach
My suggestion – protect yourself and family from the impact of identity theft: purchase ID Shield