How to
Respond
to a
Data
Breach
On September 7, 2017, Equifax credit reporting agency announced that they had had a
data breach that impacted approximately 143 million U.S. Consumers. This data breach
occurred sometime between May and July and has impacted over 44% of the US population.
This represents one of the most serious data breaches in American history. The hack exposed
names, Social Security numbers, addresses, dates of birth, and driver’s license numbers. These
are critical pieces of information used by thieves to impersonate people and steal their money.
B
eing the victim of cybercrime is a
frightening and stressful experience.
Time is of the essence, whether your
personal data has been compromised as
part of a larger targeted cyberattack, or you
are the victim of an individual cybercrime.
You’ll need to take immediate action to
minimize the impact These are steps you
should take within specifi ed timeframes after
discovering your data has been breached. tax fraud. You’ll be able to access the Tax-
payer Guide to Identity Theft, which provides
education on tax-related identity theft, tips to
reduce your risk, and steps for victims to take.
Within The First 24-48 Hours 8. Run reputable anti-virus/anti-malware/anti-
spyware software to clean your computer.
1. Call your Investment Advisor, regardless
of where or how the data breach occurred,
so we can watch for any suspicious activity
in your accounts and collaborate with you
on extra precautions to take in verifying your
identity prior to any fund transfers in your
investment accounts.
By Daniel T. Newquist,
CFP®, AIF®
Daniel T. Newquist, CFP®,
AIF® is a Principal Wealth
Advisor with RNP Advisory
Services, Inc., in Morgan
Hill with over 20 years
experience advising clients
on their personal wealth
and business planning
needs. Investment advisory
services offered through
RNP Advisory Services, Inc.
– a registered investment
advisor. Securities offered
through Securities America,
Inc., member FINRA/SIPC.
RNP Advisory Services and
Securities America are sepa-
rate entities. The Investment
Fiduciary standard of care
applies to advisory services
only. dnewquist@RNPad-
visory.com or call 408.
779.0699.
86
2. Contact your Investment Advisor
if you are a victim of identity theft, or
suspect fraudulent activity in your invest-
ment accounts. Your advisor will escalate
the matter to your investment account
custodians, so their fraud prevention and
investigations teams can investigate your
case and take necessary precautions to
prevent further unauthorized debits.
3. Call the Social Security Administration’s
fraud hotline at 800-269-0271 if you suspect
your Social Security number has been
compromised. The Offi ce of the Inspector
General will take your report and investigate
activity using your Social Security number.
4. Contact the Federal Trade Commission
(FTC), either at ftc.gov, identitytheft.gov, or
by calling 877-IDTHEFT (TTY 866-653-
4261). Click on Report Identity Theft to
access the Identity Theft Recovery Steps.
This one-stop resource for victims of identity
theft will guide you through each step of the
recovery process, from reporting the crime to
creating a personal recovery plan and
putting your plan to action.
6. Contact your bank and credit card
companies to notify them of the matter.
7. If appropriate, close any compromised or
unauthorized accounts
9. Once you’ve ensured your computer is
virus/malware/spyware free, you should
change passwords on your ac counts. Make
each password unique, long, and strong, and
use two-factor authentication when available.
Within The First Week
1. If the breach occurred at a fi rm with
whom you do business, be sure to follow the
legitimate directions provided by that fi rm. If
it offers credit protection services, sign-up for
the service.
2. Report the crime to your local police,
even though the incident may cross multiple
jurisdictions. Your local police will fi le a for-
mal report and may be able to refer you to ad-
ditional resources and agencies that can help.
3. Report your stolen money and/or identity to
one of the three main credit bureaus. Provide
the credit bureau with your police report
number and ask them to place a fraud alert on
your account to prevent additional fraudulent
activity. Once the fraud alert is activated, the
two other credit bureaus will receive automatic
notifi cation and the fraud alert on your credit
report will be in place for seven years with
all three credit bureaus. (Without your police
report number, the alert will only be in place
for 90 days.)
Equifax 1-800-525-6285
Experian 1-888-397-3742
5. Visit the IRS website irs.gov/uac/taxpayer-
guide-to-identity-theft if you’re the victim of
GILROY • MORGAN HILL • SAN MARTIN
NOVEMBER/DECEMBER 2017
TransUnion 1-800-680-7289
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