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Klingman Insights

Equifax Data Breach

September 12th, 2017

Dear Valued Client:

Most of you have probably heard about the data security breach at Equifax that occurred over the summer and was announced late last week. As Equifax has reported that up to 143 million U.S. consumers may have been impacted, it is quite likely that your information was accessed. Equifax has said that the information accessed primarily includes Social Security Numbers, birth dates, addresses and, in some cases, driver's license numbers or credit card numbers.

Equifax has sent up a dedicated website to help people determine if their data may have been accessed, although reports in the media have raised questions about the accuracy of this information. Nonetheless, we suggest you:

  • Visit www.equifaxsecurity2017.com
  • Click on the "Potential Impact" button at the bottom of the screen
  • You will be prompted for the last 6 digits of your Social Security Number and your last name
  • Upon entering the information, you will be notified whether you may have been impacted

Equifax is offering its credit file monitoring and identify theft protection service free for one year to any consumer, regardless of whether your personal information was compromised. While one can be reasonably skeptical about this service provided by the same firm that experienced a security breach, you may nonetheless want to take advantage of the offer (same website noted above). Alternatively, you can consider signing up for one of the paid credit monitoring services provided by firms such as LifeLock. We often recommend these services as an affordable source of added protection for wealthy individuals.

While we continue to monitor activity in your Raymond James accounts (and never transfer money without your verbal approval), we also suggest that you periodically request a free copy of your credit report from one the other credit reporting agencies: Experian, and TransUnion—at www.annualcreditreport.com. You can request a credit report from each of the agencies 1x per year (every 122 days if you rotate among the agencies).

As always, do not hesitate to let us know of any questions or comments.

Gerry


These materials are being provided for information purposes only and are not a complete description, nor is it a recommendation. Any opinions are those of Klingman & Associates, LLC and not necessarily those of Raymond James. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing materials are accurate or complete. Investing involves risk and investors may incur a profit or a loss regardless of strategy selected. Investments mentioned may not be suitable for all investors. Past performance is not a guarantee of future results. Diversification and asset allocation do not ensure a profit or protect against a loss. Prior to making an investment decision, please consult with your individual advisor about your individual situation. You should discuss any tax or legal matters with the appropriate professional.

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