Post Equifax Data Breach - Securing Your Bank Account

I called my credit union to ask how to secure my account after the Equifax Data Breach. News to me, they offer an additional level of security for phone call account access.

They allow customers to set up a password and security question on the account specifically as a phone call security method. So anyone calling the bank about my account will be challenged to give the password or answer the security question. Failing that challenge would require that the caller physically drive to the bank and present ids to a teller. Even if a hacker has my Identity data via the Equifax Data Breach, they can't get past this new layer of security. Note, this is totally separate from my online login to the bank which has separate password and security questions.

I am going to call a couple other banks today where I have accounts. If they do not offer this layer of security, I am moving my business to another bank that does. Period.

Of course some will say that 'bank account numbers' were NOT reported by Equifax as part of the breached data. So why worry. Well pardon me for not trusting sleazy Equifax on this. I have a copy of a credit report I received from them in the past, and the report contains 'bank account numbers'. If hackers got everything else, I think the odds are good that they could have obtained bank account numbers as well. If that is the case, the whole banking system is truly Foobar now.

BTW, you may have already set up credit freezes on your accounts as a result of the breach. I don't think that is going to stop a hacker from draining your bank deposits, because that is not an action that requires a credit check. Please correct me in the comments if I'm wrong.

PS. And isn't funny how the self-induced problem of a company that you have no relationship with, just became YOUR problem to deal with.

Good luck all. Have a great day.

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Comments

dkmich's picture

It isn't.

I was wondering about a service like lifelock. It is super expensive for the best program and $10/mo for the least. Between cable, phone, internet, online subscriptions, yada, yada, I can't believe the added expense for things that used to be free.

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Citizen Of Earth's picture

@dkmich
website according to this Zdnet article. Someone said they are giving random answers.
http://www.zdnet.com/article/we-tested-equifax-data-breach-checker-it-is...

So really at this point it's all up to your Belief System.
I'm going on the assumption they got my data so I'm taking what actions I can without expense.

I don't know much about Lifelock.

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9 users have voted.

The Equal of Two Evils Always Wins the Election.

dkmich's picture

@Citizen Of Earth

Going to give it some time to shake out and keep a really close eye on my stuff.

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travelerxxx's picture

@Citizen Of Earth

All I know about Lifelock is all I need to know -- they were (perhaps still are?) a major advertiser on Rush Limbaugh's radio program for many years. They won't be getting one thin dime from me.

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3 users have voted.
Raggedy Ann's picture

was not included, but Raggedy Andy's is, so there you have it! We are affected - YIKES!

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7 users have voted.

"They'll say we're disturbing the peace, but there is no peace. What really bothers them is that we are disturbing the war." Howard Zinn

snoopydawg's picture

were affected is that the hack went on from May through July and yet we didn't find out about for over 6 more weeks.
So someone who may have gotten my information in May got an over 3 months head start on using mine and everyone's data while we knew nothing about this.
And it doesn't seem to matter if my credit is in the toilet. There are many sites that will loan money to people who have poor credit at a higher interest rate as well as car loans for the same problem.

One article I read on this stated that if people report this theft to the police, they will receive a police report and that can be used when one puts a freeze on their credit. Another article stated that if one puts a freeze on just one of the 3 sites, the other two will also get that freeze.
But who even knows if this information is true?
One person warned congress that using SS numbers was a bad idea, but of course they didn't listen to that advice. I can only hope that congress is affected by this too.

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9 users have voted.

The Democrats are beyond morally bankrupt. The Party’s very soul has been replaced with pure ratfuckery.

Citizen Of Earth's picture

@snoopydawg
That would be great to read a story about a hapless senator wrapped up in court proceedings to clear his credit and 'good' name after someone uses the hacked identity info to buy a jet and fly off with it.

And you are right. All the info on this breach is confusing and contradictory.

I hope Equifax goes belly up after the sleazy way they handled this.

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8 users have voted.

The Equal of Two Evils Always Wins the Election.

Life Lock just monitors - it doesn't prevent hacks. I hope that ALL states now permit account freezes because that will stop thieves from opening accounts and getting credit in your name. Getting a police report is another hassle for victims and puts the onus on them, not Equifax. Withdrawing your money from the bank and putting it in your Own Safe eliminates the worry of bail-ins by the bank and thieves accessing your money. Don't trust anyone, especially the credit reporting agencies, credit card companies, the Cloud, your smart phone, and social media. Don't pay for restaurant meals with a credit card if the waiter/waitress walks away with it. Be aware and careful.

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7 users have voted.
Citizen Of Earth's picture

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1 user has voted.

The Equal of Two Evils Always Wins the Election.

earthling1's picture

It won't solve everything, but it will kill the entire credit industry and their minions.
Credexit....It's the only weapon we have left.

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6 users have voted.