Equifax Data Breach Impacts 143 Million Consumer and Business Credit Reports

This week national credit bureau Equifax announced it experienced a massive data breach from May to July 2017. An estimated 143 million U.S. credit holders are impacted, with financial experts saying that basically if you have a credit history there’s a good chance your data was effected. Hackers gained access to social security numbers, names, addresses, credit card numbers, and drivers’ license numbers.

Equifax has set up a tool to help you check if you’ve been hacked, but experts are receiving mixed results when testing the system. You can access it on the Equifax website, but be aware that it will ask for identifying information and enrollment in the program could potentially keep your company from being part of any class-action lawsuits that may arise.

Now is a good time to review best practices for guarding against identity theft and fraud. Freeze your company’s credit to prevent potential identity theft and reissue corporate cards. Also consider accessing your credit report immediately even if your company routinely checks it once a year. The Federal Trade Commission also suggests filing tax documents as early as possible to avoid potential tax fraud.

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