Equifax Lessons Learned continued from page 17
Incident Response Next Steps
suggesting all of these services are just
Index of Advertisements
As an institution, if you have decided to detection tools. Once they find fraud on
share information with your customers your credit report, it's too late. You will
about the breach, what should you be stuck cleaning up the situation. To
Anastasi Jellum
32
communicate? The process Equifax is really protect yourself from identify theft
currently suggesting might not be the most and fraud, you should place the security
Bell Bank
23
beneficial for those affected long-term. The freeze (also known as credit freeze) on
good news is there are lots of alternative your account with each of the four credit
Community Reinvestment Fund 26
suggestions to consider in addition to or in bureaus. This will make getting new credit
replacement of Equifax's suggestions.
cards, loans, and mortgages harder in the
EO Johnson/Locknet
19
Here is what Equifax is suggesting on their future, as you would need to temporarily
Eckberg Lammers
5
new website to protect yourself:
thaw your credit to get approved. For
more information on how a security freeze
· Check if you are affected and, works, check out this article from Brian
Emergent Networks
35
regardless, enroll in the free identify Krebs, which is full of useful information:
Gislason & Hunter, LLP
25
protection offered by Equifax: https:// https://krebsonsecurity.com/2015/06/how-
trustedidpremier.com/eligibility/ i-learned-to-stop-worrying-and-embrace-
Graduate School of Banking
2
eligibility.html
the-security-freeze/
· Monitor your bank account for Also, if you have concerns about the
Midwest Bankers Insurance
fraudulent activity
effectiveness or intentions behind the
Services
36
· Obtain and monitor your credit report: TrustID solution provided by Equifax,
SDN Communications
30
http://annualcreditreport.com
there are other monitoring solutions out
· Consider placing a "fraud alert" on your there you can suggest to your customers,
such as:
Stein & Moore
21
credit report: https://www.consumer.
ftc.gov/articles/0275-place-fraud-alert
· Credit Karma -
· Consider placing a "credit freeze"
https://www.creditkarma.com
on your credit report: https://www. · Credit Sesame -
Advertisements
consumer.ftc.gov/articles/0497-credit-
https://www.creditsesame.com
The contents of advertisements that
freeze-faqs
· LifeLock - https://www.lifelock.com
appear in the MBA News are solely
Brian Krebs has suggested that there Summary
the responsibility of the advertisers.
is limited value in the results of the The Equifax breach is a very significant
Appearance of an advertisement in
website tool that checks if you were breach ­ perhaps one of the most impactful
the MBA News does not constitute
affected or not. It is better, particularly breaches thus far ­ and it will have a large-
a recommendation or endorsement
in this day-and-age where data breaches scale impact on millions of Americans.
by the association or the MBA News
occur regularly, to assume your data has It might be easy to just dismiss this story
of the goods or services offered.
been breached, regardless of the Equifax and move on with life, but we want
Publication of any advertisement may
website results. There is probably no to encourage you to stop and consider
be subject to review by the MBA News
harm, however, in using the free service how you can learn from this scenario
Policy Board. For more information
provided by Equifax, given the fact they and improve your own organization, as
on advertising in MBA News, contact
are no longer taking your legal right away well as how you might help protect your
Terry Tiller at terryt@minnbankers.
to litigate against them and that you will customers and communicate information
com.
not be automatically opted into the paid- in the future. Breaches will continue to
for solution a year from now when the free
Articles
be a regular occurrence, and we can't
coverage expires.
MBA News regularly publishes a
stand idle and do nothing. Learning from
variety of by-lined columns authored
Krebs makes some good points in a recent someone else's mistakes are the cheapest
.
by individuals whom we consider to
Q&A post about the Equifax breach, lessons to learn.
paper
be knowledgeable in their respective
fields and who have a valuable
content
message to share with Minnesota's
banking community. Opinions in
recycled
these columns, however, are those
Chad Knutson
30%
of the authors and do not necessarily
Partner, President of the SBS Institute
on
represent the opinions of the Board
SBS CyberSecurity, LLC
chad.knutson@sbscyber.com
printed
of Directors, members, or staff of the
is
Minnesota Bankers Association.
News
MBA
34
MBA News | November/December 2017 | www.minnbankers.com

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