A data breach is when the records of a company are either lost or stolen. When this happens, any sensitive information the company may have of yours, such as social security number, bank information, or credit card information, can end up in identity thief hands. They can then use your information to steal your money, access your cards, or create new accounts using your name.
A data breach can happen anywhere, not just at major department stores such as The Home Depot or Target. It can happen at small neighborhood stores like a local hardware store, as well as your doctor’s office or large or small online retailers, and even credit card companies and banks.
Being a victim of a data breach puts you at risk for identity theft. Identity theft can result in blemishes on your credit report, calls from collection agencies for unpaid bills the thief is responsible for, and can even go as far as compromising your income tax records, prevent you from getting loans, and even cause foreclosure on your house.
State laws usually require businesses to notify customers of data breaches within a certain time period or face fines. Only five states do not have laws about data breaches (Alabama, Mississippi, New Mexico, Kentucky, and Colorado). Many companies pay for credit monitoring for 6 to 12 months for their customers who may be affected. Although the Federal Trade Commission (FTC) has recommended that businesses offer this after a data breach, it’s not required.
If you’ve discovered you’re an identity theft victim, some things you can do to deal with it include:
To remove any fraudulent activity from your credit report you’ll need to provide the following information:
Within four business days all fraudulent activity should be removed from your credit report. It’s important that you continue to regularly monitor your credit report. This is the best way to protect yourself from any harmful effects of identity fraud and theft, both now and in the future.
If you have been a victim of identity theft or think you’ve been a victim of a data breach, contact an identity thief attorney such as Sevens Legal, APC, for assistance. Contact Sevens Legal, APC, today for a free consultation.