iii.  To Freeze or Not to Freeze, That is the Question! by George Skidis

In 2024, several significant data breaches have impacted a variety of industries across the United States. We believe that our readers need to place a freeze on their credit with all three credit bureaus listed below. In addition run a current credit report to look for illegal activity on their accounts.

Here are some of the most notable incidents in the first half of 2024:

1. AT&T: This telecommunications giant experienced a breach affecting around 73 million individuals. Sensitive information such as social security numbers, account numbers, and pass codes were compromised. The breach, which included data from as early as 2019, was discovered in March 2024.

2. MOVEit: A massive breach occurred with the MOVEit managed file transfer application, leading to the exposure of data for 77 million individuals. This breach affected a wide range of U.S. entities, including government agencies and educational institutions, and was linked to the CLOP ransomware gang.

3. Ticketmaster: In May 2024, over 560 million customer records were exposed in a significant breach. The stolen data included payment information, order history, and personal details. This incident has drawn significant attention due to the large scale of the data compromised.

4. Dell: In May 2024, Dell was targeted in a cyberattack that compromised the data of 49 million customers. The breach was facilitated through brute-force attacks on Dell's partner accounts, resulting in the theft of sensitive customer information.

5. Bank of America: A ransomware attack in February 2024 affected 57,000 customers of Bank of America. The breach, which targeted a service provider, involved the unauthorized access of personal details including social security numbers and account information.

6. UnitedHealth Group: One of the largest healthcare companies in the U.S., was recently the target of a significant data breach in 2024. The breach exposed sensitive information for an undisclosed number of patients and healthcare providers. The attack has raised concerns due to the nature of the data involved, which includes personal health information (PHI), social security numbers, and other sensitive details.

7. U.S. Department of Education: The Department of Education was also targeted in 2024. Hackers exploited vulnerabilities to gain access to sensitive student loan data, including personal identification information and financial details. The breach raised concerns about the security of the federal student aid system and led to increased scrutiny over cyber security practices within the department.

Following are some more data breaches both here and around the globe.

International Monetary Fund (IMF)

England and Wales Cricket Board Coaching Platform 

Cannes Hospital 

Cencora 

Spoutible 

Tangerine Telecom  

Trello

VARTA 

Omni Hotels 

EquiLend

KryptonZombie Attacks Cutout.Pro  

Frontier

ThyssenKrupp 

United Nations Development Program 

US Local Governments as users of the Moveit platform

Fujitsu 

Prudential Financial 

Octapharma Plasma 

LoanDepot

The three major credit bureaus in the United States are:

1. Equifax: Founded in 1899, Equifax is one of the oldest credit reporting agencies. It collects and maintains consumer credit information and provides credit reports to businesses and individuals. 800-685-1111

2. Experian: Based in Dublin, Ireland, and operating globally, Experian gathers and analyzes credit information on over a billion individuals and businesses. It offers credit reporting services, as well as tools for fraud prevention and identity theft protection. 888-397-3742

3. TransUnion: TransUnion, headquartered in Chicago, provides credit information and credit reports for millions of consumers around the world. In addition to credit reporting, it offers risk and analytics services to various industries. 888-909-8872

Each credit bureau will give you one free credit report per year. Order one now from Equifax. In four months order a new report from Experian. Then in eight months order a report from TransUnion. Four months after it has been a full year and you can start over again with Equifax.

But George, why should we do this?

Without good credit you could be limited as a real estate investor. This business is greatest when getting the best deal on financing. Hard money fills a gap, but the goal is not to need it 100% of the time.

Good Luck and Good Investing

George
george@ilreia.com

(618) 520-8999