{"id":112697,"date":"2017-09-12T10:26:33","date_gmt":"2017-09-12T14:26:33","guid":{"rendered":"http:\/\/countingpips.com\/?p=112697"},"modified":"2017-09-12T07:27:11","modified_gmt":"2017-09-12T11:27:11","slug":"how-to-survive-the-equifax-hack","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/how-to-survive-the-equifax-hack\/","title":{"rendered":"How to Survive the Equifax Hack"},"content":{"rendered":"
September 12, 2017<\/div>
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By WallStreetDaily.com<\/u><\/a> \"How<\/p>\n

\"LouisThe Equifax hack should deeply scare you.<\/p>\n

Heck, it concerns me enough that I took immediate action.<\/p>\n

Today, I\u2019m strongly recommending that you do the same.<\/p>\n

As you know, Equifax is one of three nationwide credit-reporting agencies that track and rate the financial history of American consumers.<\/p>\n

Think of Equifax as the invisible arm of finance, reporting your credit history to credit card companies, banks, retailers and lenders \u2014 all without your consent.<\/p>

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Last week, the company reported one of the most serious hacks in global history.<\/p>\n

Half of Americans\u2019 financial history was compromised \u2014 roughly 143 million people.<\/p>\n

Worse yet, the hack contained the \u201cCrown Jewels\u201d of personal data \u2014 Social Security numbers and driver\u2019s license numbers. Armed with such information, hackers can literally begin opening accounts under your name. Eek!<\/p>\n

So here\u2019s what I want you to do, ASAP\u2026<\/p>\n

Navigate on the web to the FTC\u2019s Consumer Information page<\/strong><\/a> and put a temporary freeze on your credit reporting. Freezing your credit reporting will make it extremely difficult for an unscrupulous person to open an account under your name.<\/p>\n

I\u2019ve already done it, and it was quite easy.<\/p>\n

The freeze will cost you anywhere from $5 to $10, and it can be lifted anytime.<\/p>\n

Equifax is also offering a year of complimentary identity theft protection and credit file monitoring as a \u201cmake good\u201d for that hack. I DON\u2019T recommend enrolling until you read the fine print.<\/p>\n

As Ars Technica<\/strong><\/a> and other outlets reported, opting in might entail relinquishing certain legal rights.<\/p>\n

As much as I loathe to say it, the Equifax hack has further layers to it.<\/p>\n

Turns out the company knew about the breach back in May yet didn\u2019t tell a soul.<\/p>\n

Jury Still out on Insider Activity<\/h2>\n

\"JonathanThe Equifax hack wasn\u2019t just bad.<\/p>\n

It\u2019s going to go down as one of the largest, most catastrophic data breaches of all time.<\/p>\n

And the breach isn\u2019t even the worst part.<\/p>\n

Management finally reported the breach to the public on Sept. 7, outlining the discovery of the hack on July 29 and their immediate actions afterward.<\/p>\n

I\u2019ll do the math for you\u2026<\/p>\n

The company waited six weeks<\/em> after learning about the breach to tell anyone about it \u2013 without even giving a good reason for the delay.<\/p>\n

Here\u2019s where things really get rich\u2026<\/p>\n

Several Equifax executives made some damning moves that were not covered at all in the announcement.<\/p>\n

For instance, they sold nearly $2 million in stock less than a week after learning about the breach:<\/p>\n