[BreachExchange] Are Data Breaches Truly Dangerous?

[Audrey McNeil]

https://www.lowcards.com/are-data-breaches-truly-dangerous-52286

Data breaches seem to happen every week in America, to the point that most
of us have become desensitized to the news. The routine is always the same:
notification, apology and then recommendations for affected users (get a
new card, change your account password, monitor your financial accounts,
etc.).

With the frequency of data breaches, we have to wonder if they’re really
all that dangerous. Do people still have their identities stolen, and can
the information from a data breach lead to identity theft?

It’s a matter of what kind of information is stolen and revealed during the
data breach. For instance, debit card numbers are not much use if they do
not have a corresponding PIN with them. Stolen Social Security Numbers
alone are not as dangerous unless the thief has the corresponding name or
date of birth.

Take for example the recent Alteryx data breach that exposed household
information for 123 million Americans. There were no names or identifying
features leaked in the breach, and the data included was mostly related to
marketing. That does have value to select parties, but the Americans
included in the breach should not see any major repercussions.

The most common result of a data breach is someone’s card information being
stolen, in which case the card may be used for unauthorized purchases or
money transfers. Most banks and credit card providers have security
protocol in place to watch for potentially fraudulent transactions, and
will temporarily freeze a card after suspicious activity. If you try to use
your card after the freeze, the transaction will be declined.

Data breaches can be dangerous if there is enough information to piece
together your identity. In that case, thieves can open up new accounts,
destroy your credit report and even divert your tax refund to themselves.
If you did shop at a store where a breach occurs, and the breach includes
enough information to piece together your identity, you may want to
consider the free credit monitoring that most affected stores offer. Or
possibly even a credit freeze.

In this day and age when security breaches are occurring on a regular
basis, it is a good idea to check your card and bank accounts daily, just
to make sure you catch an unauthorized charge.

So, don’t panic when you hear of a data breach. But do remain vigilant in
protecting your data.
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