CO treasurer suggests methods to handle a data breach
For Identity Theft Awareness Week 2023, Colorado Treasurer Dave Young wants to make sure you know what to do in a data breach.
“Being affected by a data breach can be alarming, and in the worst-case scenario, it can lead to identity theft and financial complications,” Young stated. “But if you know what to expect, and you take a few simple steps to protect yourself and stay vigilant, you can overcome the risks and hassles of a data breach.”
Identity Theft Awareness Week is an annual observance that begins on the last Monday of January and lasts for five days. This year, it took place from Jan. 30 to Feb. 3. The significance of this week is to spread awareness that any type of theft can disrupt your finances, credit history, and reputation and take money and time to resolve.
When information is lost or exposed
Did you recently get a notice that says your personal information was exposed in a data breach? Did you lose your wallet? Or learn that an online account was hacked? Depending on what information was lost, there are steps you can take to help protect yourself from identity theft.
Unfortunately, data breaches have become a common feature of modern life in our always-connected world of online services; everyone in the U.S. is at risk of having their data stolen. However, even if your data is compromised in a data breach, you don’t have to become a victim. There are several steps you can take to contain the damage; and keep your personal finances, credit score and identity safe from criminals.
If you find out that a company you do business with – or an online service that you use – has suffered a data breach, here are a few steps to take right away:
1. Change your passwords: It’s a good idea to keep changing your password on a regular basis, but in the aftermath of a data breach, it’s especially important to change your passwords to something strong, secure, and unique. And you should have multiple “passwords,” not just one. Do not use the same password for all of your online accounts. In general a “strong” password is at least 8 characters with a mixture of letters, numbers, and symbols. Consider using a password manager to help generate and keep track of your passwords.
2. Sign up for two-factor authentication: In addition to changing your passwords, sign up for two-factor authentication (also known as “2FA” or “two-step verification”) wherever possible. This is an added layer of security for your account logins, and many services such as Gmail and Facebook now offer it. With two-factor authentication, your online account will require you to enter an additional level of identification to access your account – such as a code texted to your phone. This means that even if hackers get your email and password, they can’t get into your account without that second factor of identity verification.
3. Check for updates from the company: If your data is involved in a major data breach, the company will likely post ongoing updates and disclosures about which customers were affected. For example, after a recent Facebook data breach, the company automatically logged out the users whose accounts were affected and sent them messages via the platform about what had happened and what to do next. After the Equifax data breach, the Federal Trade Commission (FTC) offered a series of advisories and steps that people could take to protect themselves.
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