In an increasingly digital world, safeguarding personal information has become paramount. As incidents of identity theft continue to rise, understanding credit monitoring and taking proactive steps to prevent identity theft are crucial.
New York Attorney General Letitia James has issued a warning to millions of New Yorkers that Change Healthcare, the company that runs the biggest electronic health care payment system in the country, was hit by a cyberattack in February that compromised the personal information of millions of patients, including millions of New Yorkers.
Change Healthcare is offering all New York residents free credit monitoring and identity theft protections for two years to safeguard their personal information.
What Is Credit Monitoring?
Credit monitoring serves as a warning system, alerting individuals when changes occur in their credit reports. While it won’t stop identity theft, it provides an early detection mechanism. Here’s how it works:
- Monitoring Credit Reports: Credit monitoring services keep an eye on your credit history. If any suspicious activity or unauthorized changes occur, you receive alerts.
- Dark Web Scanning: These services also scan the dark web for signs of your personal information being traded or sold illegally.
- Flagging Suspicious Transactions: Credit monitoring tracks your credit and bank activity, flagging any unusual transactions.
The Reality of Identity Theft
Identity theft is a pervasive threat. In 2023, over 1 million cases were reported in the US alone. Thieves exploit stolen information to wreak havoc on victims’ lives:
- Financial Fraud: They can open new credit accounts, withdraw funds, or make unauthorized purchases.
- Medical Fraud: Using your identity, they may receive medical care, leaving you with the consequences.
- Criminal Activity: Identity thieves might commit crimes in your name, tarnishing your reputation.
Choose the Right Protection Service
There are many free ways to protect oneself from identity theft. To freeze their credit, consumers should contact the three credit bureaus, Experian, Equifax, and TransUnion.
- You can place a credit freeze with Experian online or by calling +1 (888) 397-3742.
- You can place a credit freeze with Equifax online or by calling +1 (888) 766-0008.
- You can place a credit freeze with TransUnion online or by calling +1 (800) 680-7289.
Consumers can also report concerns related to the Change Healthcare cyberattack to the Office of the Attorney General (OAG) by calling 1-800-771-7755 or filing a complaint online.
Remember, while credit monitoring won’t prevent identity theft, it empowers you to take swift action. Stay vigilant, protect your personal data, and consider professional monitoring services.
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