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A Practical Guide to Protecting Your Data 

  • Writer: Joshi Koneru
    Joshi Koneru
  • Nov 15, 2024
  • 3 min read

We’ve all seen the notifications. It feels like we get informed about personal data breaches every other week. Just in the past three months alone, 15 major companies have suffered data breaches, including National Public Data, a well-known background check company. They recently lost the personal information of 1.3 million people. If you’re feeling overwhelmed, you're not alone.


This article outlines what steps to take if personal information is compromised, the options available to help protect your data, and best practices to help protect against future risks.


1. Should You Sign Up for Free Credit Monitoring? 


The initial reaction after being notified of a breach is whether to sign up for the free credit monitoring service being offered. Our advice: read the fine print before you say yes.


For example, after the Experian breach, people who signed up for free credit monitoring found themselves bombarded with ads every time they checked their credit. Additionally, these services often involve third-party companies, which means you’re handing your personal information over to yet another business. Before accepting, weigh the pros and cons carefully.


2. Find Out What Was Compromised


To start, determine exactly what personal data has been compromised. A great tool for this is the website: Have I Been Pwned. It is free and allows you to check if your email address (or other personal info) was involved in a breach.


For example, the AT&T breach revealed compromised data including dates of birth, email addresses, government-issued IDs, names, phone numbers, and physical addresses. This is the worst-case scenario.


Pay extra attention to anything related to Social Security numbers or account numbers - those are the most dangerous pieces of information, if exposed.


If you think any of your accounts we manage or external to Watershed are compromised, please contact us immediately. We can quickly ensure that your accounts are not at risk.


3. Change Your Passwords (and Don’t Reuse Them!)


Once you learn what information has been compromised, the next step is to change your passwords immediately. This may seem obvious, but it's worth emphasizing: stop using the same password for everything. 

  • Avoid using easily guessable words or personal information (like your pet’s name or birthdate). 

  • Set up two-factor authentication (2FA) where possible. It is an extra layer of protection that can prevent unauthorized access even if someone has your password.


4. Monitor Your Credit 


It is a smart practice to check your credit report at least once a year. After a data breach, check your credit at least quarterly, especially if you are concerned that information has been exposed.


You can access a free report from all three credit bureaus through AnnualCreditReport.com. This is the most convenient and legitimate service for obtaining your full credit report.


Be on the lookout for any new accounts opened in your name. If you spot anything suspicious, take immediate action. 


5. We Do Not Recommend Identity Theft Protection Services


While services like LifeLock, IDShield, and IdentityForce sound good on paper, they do not offer proactive protection as promised. These are expensive subscription services that do not prevent identity theft - they notify you after the fact. By then, the damage might already be done.The steps listed above, such as freezing your credit and monitoring your credit report, offer the same protection for free (or at low cost), without the added expense. 


6. Freezing Your Credit: The Best Preventative Measure


The best tool to prevent identity theft is to freeze your credit. When your credit is frozen, no one can open new accounts in your name without your permission. It is a powerful way to lock down your financial identity.


How to freeze your credit: 

When you freeze your credit, make sure to secure your PIN and password for each credit bureau. Losing access to them is almost as difficult as trying to travel to North Korea - so be careful!


Final Thoughts


These tips will help you navigate what to do after a data breach. If you have any questions or want more personalized advice, do not hesitate to reach out. As always, we’d love to hear any best practices you’ve found helpful in protecting your personal data.


Stay safe and take control of your security!

 
 
 

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