Late last month credit reporting giant TransUnion disclosed that hackers accessed a third-party application tied to its U.S. consumer support operations on July 28.
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The breach was discovered July 30 and affected the sensitive personal information of 4.4 million Americans, according to a filing with Maine’s attorney general’s office reported on by TechCrunch [1].
Another filing the outlet found revealed the type of information included names, dates of birth, and Social Security numbers of victims. TransUnion insists credit reports or core credit information remains untouched.
What do we know so far
According to BleepingComputer, the cyberattack is connected to ShinyHunters, an extortion group notorious for exploiting vulnerabilities in Salesforce-hosted databases [2].
“While most of the previous attacks have exposed sensitive but less critical information, the compromise of SSNs creates far greater potential for identity theft, financial fraud, and long-term misuse of personal data," said Cory Michal, chief security officer at AppOmni, to IT Pro in an article about the TransUnion breach [3].
This breach arrives amid a flurry of cyberattacks across critical industries. The same group has allegedly targeted Google, Allianz Life, Cisco, and Workday, per BleepingComputer.
How to act fast and protect yourself from a data breach
TransUnion is offering “proactive fraud assistance” and 24 months of free credit monitoring services to affected individuals.
A data breach exposing your sensitive personal information can feel overwhelming, but acting quickly is critical. If you know the right steps to take, you can minimize financial fallout and protect yourself from the consequences of identity theft. Here are a few tips experts recommend:
1. Confirm the breach before taking action
Scammers often exploit large-scale hacks by sending fake breach notifications designed to steal more of your data. Before taking any action, confirm the legitimacy of any email or letter claiming your data was compromised. For example, Massachusetts’ residents can compare their letter with state-verified breach letters.
2. Identify compromised information
Next, understand the scope of the breach. Evaluate the reports to confirm whether the hackers accessed sensitive details like your Social Security number, date of birth, or financial accounts.
Read more: Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
3. Freeze your credit card or place a fraud alert
One of the most effective defences against identity theft is a credit freeze, which prevents anyone — including scammers — from opening new credit accounts in your name. Major credit bureaus such as TransUnion, Equifax, and Experian let you impose a credit freeze for free.
If you still need access to credit, you can request a one-year fraud alert. A fraud alert forces lenders to verify your identity before approving new applications.
4. Monitor your credit reports regularly
Stay on top of any changes in your credit activity. You can request free weekly credit reports from all three major bureaus. Look for unfamiliar accounts, loan applications, or hard inquiries. If you spot incorrect information, you can dispute it with the credit reporting company and the company that provided the information.
5. Tell the authorities if your identity has been stolen
If you suspect that your identity has been stolen, report it immediately to the Federal Trade Commission at IdentityTheft.gov. The platform lets you report cases of identity theft and receive a plan of action.
You may also have to contact the IRS if your Social Security number is being misused. "Scammers may also use your SSN to file a tax return to receive your refund. If you’re eligible for a refund, a scammer could file a tax return before you do and get your refund," says the agency. "If your SSN is stolen, another person may use it to get a job. That person’s employer would report earned income to the IRS using your SSN. This makes it appear that you didn’t report all of your income on your tax return."
TransUnion’s breach is a stark reminder that even major financial institutions are at risk of a data breach.
While it’s impossible to predict a data breach, consumers can take proactive steps to protect their digital identity. In today’s cybersecurity landscape, preparedness is your best defence.
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Article sources
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[1]. TechCrunch. "TransUnion says hackers stole 4.4 million customers’ personal information"
[2]. Bleeping Computer. "TransUnion suffers data breach impacting over 4.4 million people"
[3]. ITPro. "4.5 million people just had their data exposed in the TransUnion breach – here’s what customers need to know"
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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