The recent intrusion on Capital One did not follow the theme of a common cybercrime. This does not mean, however, that you shouldn’t do any protection for yourself. Capital 1 (COF) explained in an information statement, what happened and what clients can do if affected.
The breach of data was not small – 100 million clients were affected. These customers have been robbed of very sensitive financial personal data, along with social security numbers, information on linked bank accounts, credit ratings, personal loans, balances, payment history and transaction history. Capital One said that there were no compromises in credit card numbers or log-in certification.
There is one element that differs this violation from that of other people of its unknown: in its statement, Capital One said that there was no evidence that the alleged hacker tried to take advantage of information that he apparently stole or shared nearly four months. After most violations of data, hackers sell the stolen data immediately for black-market payments – the fresher the data, the more price they order.
But this should not mean that the violation of data is not a menace. You need to take steps to control your accounts and protect them.
This is why: the suspected hacker shared the crime on social media platforms openly. Thus, “at least some of that information could have been accessed by others who may have observed her operations on various social media platforms,” said security specialist Brian Krebs.
In addition “based on the perpetrator Twitter interaction and Slack posts [as detailed by Krebs], it did appear Capital One is really the only corporation affected by this—it’s just the first company to openly admit it has been hacked and the most responsive in addressing the security issues.”
Plunkett adds that while he feels that Capital One is ahead and aggressive in the answer it receives, he agrees that clients should be vigilant in protecting their data.
What are you suppose to do?
1. Check for unusual activity on your account. Capital one says that, in this FAQ, customers should inform their security about suspicious activities by calling the number at the rear of their card.
2. You can put a simple fraud alert on your account for one year if you see fraudulent charges in your account. In contrast to credit freezes, an alert to fraud does not prevent creditors from trying to access your credit report, but it requires creditors to verify that someone opening an account has their identity.
Contact one of the national loan reporting firms — Equifax, Experian or TransUnion – to provide an alarm for fraud on your credit report. You will be notified by the firm you contacted and the other two will be added with the fraud alerts to your credit reports.
3. Check your report. If you had been affected by a Capital One data breach, or were not affected, seize the chance to verify your credit report complete, accurate and up-to-date information.
Each of the three national crediting reporting companies has a free copy of their credit report, on request, every 12 months, in accordance with the Fair Credit Reporting Act. If you do this via www.annualcreditreport.com, requesting a Copy of your Credit Report is free and secure; that is the only site approved to issue free credit reports as part of the FRCA.
4. Be sceptical of calling and receiving e-mails. After data violations, phishing often takes advantage of consumer fear and confusion, as hackers hope to take leverage. Capital One and the Federal Trade Commission both expressly stated that they would not request credit card, account information, or Social Security numbers to email or text or to call consumers.
5. Consider subscribing to Capital One’s free credit surveillance and online security services.
The company has not provided any further details but to say that it offers credit monitoring and protection against identity theft, but you can sign up worthwhile. The FTC says, “for example, Equifax (EFXcredit )’s monitoring system offers consumers affected by its recent infringement worth ‘hundreds of dollars a year because its credit report is monitored in all three credit reporting agencies throughout the country and provides insurance identity robbery and personal identifying services up to $1 million.”
6. Freeze your credit. You’ll have to contact all three nationwide credit reporting agencies through a law adopted in September that will freeze and unfreeze your credit. A freeze does not hurt your credit score, it just restricts lenders from inspecting your credit in order to set up new accounts. You have to reactivate your credit if you want to open a new account.
Data violations leading to fraudulent credit card charges represent a big enough problem in themselves, but what if cyber thefts have access to enough key financial information to steal from savings and retirement accounts? We interviewed two cyber security experts and they really helped.
In conclusion, vigilance is the key and supporting your vigilance with information you get can be very helpful, the above article have touched some facts about data breach so try and keep to them