Hackers have your info. Here's what to do now

SSN of Every American leaked, Next Steps

I was casually doom-scrolling on Twitter yesterday and saw the normal assortment of what’s trending—stuff about CPI, some funny memes about that Australian breakdancer and an article saying hackers have stolen the Social Security numbers of every American. What?? Oh my God!!! Those dance moves were crazy. Oh, and my Social Security Number has been compromised. Cool, cool. 

What Happened? 

• A hacking group called USDoD claims to have stolen 2.7 billion records of personal information from Americans, including Social Security numbers, physical addresses and dates of birth. 

• The hackers, USDoD, offered to sell the stolen records, which included personal data for everyone in the U.S., U.K. and Canada, to a forum of hackers for $3.5 million dollars.

• The data was stolen from National Public Data, a platform that offers personal information to employers, private investigators, staffing agencies and others performing background checks.

Well, that’s just peachy! What do I do now? 

The hacked data provides enough information for bad actors to do dirty deeds with your funds. This new tranche of information combined with previous hacks could be enough to cause financial chaos. Here are some steps you can take to protect the integrity of your data and that of your loved ones and, yes, even your children. 

Step 1: Scream into a pillow 

Step 2: Make sure you are using a password manager

Hackers love the fact that people are lazy. We use the same password for multiple sites because it's easy. My parents love me very much—as they should because I'm amazing—but I should not be their password for everything. When your data is compromised once, it puts all of the rest of your accounts at risk if you’re using the same password. I personally use the subscription-based service LastPass, but there are other sites like 1Password and even password management features in the Apple (AAPL) IOS and Google (GOOGL) Chrome Browser. If your passwords vary for every single account and they look like a cat walked across your keyboard, you’re doing it right. 

Step 3: Use credit-alert settings 

Your financial institution should offer ways of opting into to their credit monitoring services. Details vary based on the institution, but these featurs purport to scan credit inquiry activity for all of your accounts. You can also use a site like Credit Karma (INTU) to see if your data has been compromised. The site also enables you to opt-in for fraudulent alert monitoring for free. I use Chase (JPM) and somehow they can tell the difference between me ordering stuff wine-drunk off Amazon (AMZN) and someone using my stolen info to buy tires and a mattress (true story). 

Step 4: Freeze your credit 

Placing a freeze on your credit is free, and it will prevent criminals from taking out loans, signing up for credit cards or opening financial accounts under your name. CAVEAT! You will need to remember to lift the freeze temporarily if you are trying to apply for something that requires a credit check: leasing an apartment, buying a car or applying for a job, for example. 

This process is easy, but cumbersome. I did all of these steps last night and it took me about 20 minutes. 

There are three credit bureaus: Experian (EXPGY), Equifax (EFX) and TransUnion (TRU). Why do we need three? I have no idea. Do they share information and talk to each other? Nope! So you, Dear Reader, have to go to each of these sites individually to put a freeze on that bureau’s credit report. We are the greatest nation in the world. 

The steps are pretty much the same for each.

1. Visit the site of the bureau: Experian, Equifax and TransUnion. (These links go right to their credit freeze pages.)  

2. Provide your information. 

3. Get a confirmation code. 

4. Set up an account on the site. (Use your password manager for this new password. DO NOT use a previously used password.) 

5. Click “freeze.” 

6. Repeat with the other two bureaus.

But Vonetta, these criminals have all of my information. Can’t they just unfreeze my stuff? No! You have to login to unfreeze the account, and this is why you will use a new, very secure password for these sites. But remember, if you know you’re applying for a loan, or something that will trigger a credit inquiry, you will need to log on to each of the three sites again (ugh, this system sucks) to UNFREEZE your credit so you don’t get declined. 

Where do we go from here? 

With 2.9 billion records compromised, the odds that yours will be exploited is low, but it’s not zero. Parents! You should also perform these steps for your children because they have Social Security Numbers and their financial history is also at risk. If you have older parents, please help them as well. The Social Security Number is a relic of a bygone era—and it was good while it lasted. But we need a more secure solution to protect the financial information of all Americans. I don't know if that means a blockchain-based approach, but something must be done. Stay safe out there, and keep an eye out for unauthorized Jet Ski purchases. 

Vonetta Logan has more than a decade of markets experience and has been a trader for five years. She is an on-air personality, creative writer and news correspondent at tastylive. Vonetta appears Monday-Friday on Daily Dose and contributes to Luckbox Magazine. @vonettalogan

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