How to Respond to a Data Breach
You may have read that hackers broke into the Equifax database and stole personal information tied to 143 million people. The hackers accessed people’s names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers. They also stole credit card numbers for about 209,000 people and dispute documents with personal identifying information for about 182,000 people. There is no reason to think that data is not for sale to criminals on the darknet who can use it to open new lines of credit or file phony tax refund requests in peoples’ names. To make matters worse, crooks usually target the wealthy because they get more bang for the effort buck.
The company compounded its public relations nightmare by sending people to a website to find out if they were affected, and then including language so that anyone signing in to get this information had to waive any right to join a class action suit against the company should their identities be stolen and financial harm come to them.
Begin with the end in mind
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Begin with the end in mind: Start your next advisory relationship with a clear exit strategy...
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