UPDATE: Due to the small size of Equifax’s settlement fund, victims may receive less than the promised $125 cash settlement. NCL is now recommending that consumers take advantage of the free credit monitoring option.

While the Equifax breach is not new, the announcement of an FTC settlement fund could create an environment ripe for scammers to take advantage of Equifax breach victims. As you look into your rights, make sure you only file a claim through the Federal Trade Commission (FTC) and the official Equifax breach settlement page.  

Background of the breach and settlement: In September 2017, Equifax announced one of, if not the largest and most damaging data breaches in history which compromised the personal information of 147 million Americans. Last week, the Federal Trade Commission announced a settlement fund which will help breach victims protect themselves from identity theft and repay victims for expenses they have encountered from the breach. 

You can find out if you are a victim of the Equifax breach by clicking here. 

Under the terms of the settlement, Equifax breach victims can choose between:  

4 years of credit monitoring with all 3 credit bureaus (Experian, Equifax, and Trans Union) 

• The 4 years of credit monitoring includes a $1,000,000 identity theft insurance policy 
• In addition to the 4 years of monitoring with all 3 credit bureaus, this option provides an additional 6 years (a total of 10 years) of free credit monitoring of your Equifax report 

OR 

A cash settlement of less than $125 cash if you already have credit monitoring of some kind. 

• NCL recommends to avoid this option and take advantage of the free credit monitoring. Because of the popularity of the cash settlement option, and the limited amount of funds Equifax has set aside to pay it out, it is very likely that victims who choose this option will receive much less than $125.  
• Victims who have already selected the cash settlement option, may change their decision and opt for free credit monitoring by emailing the settlement administrator at: info@EquifaxBreachSettlement.com  

In addition, victims will be provided access to a compensation fund that will compensate victims for things like: 

• Time spent dealing with the breach ($25 per hour up to 20 hours) 
• The cost of freezing or unfreezing your credit report 
• Costs incurred for credit monitoring 
• Fees you paid you’re your attorney or lawyer for breach related work 
• Other miscellaneous fees related to dealing with the breach such as notary fees, postage, millage and phone charges. 

To learn more about the breach compensation fund, check out: 

• The FTC’s official Equifax data breach settlement page 
• Equifax breach settlement FAQs 

If you have additional questions you can contact the Equifax administrator by: 

• Calling 1-833-759-2982 
• Emailing info@EquifaxBreachSettlement.com 

Marriott and Starwood properties have announced that the personal data of up to 500 million of their customers has been compromised.

Breach announced: November 30, 2018

Description of the breach: Marriot International, which includes many popular hotel brands such as, Sheraton, and W Hotels, announced that the data of up to 500 million of their guests had been compromised. The breach, which occurred from 2014 to September 10, 2018, compromised consumers’ names, mailing addresses, phone numbers, email addresses, passport numbers, Starwood Preferred Guest (“SPG”) account information, dates of birth, gender, arrival and departure information, reservation dates, and communication preferences. For some, the information also included encrypted payment card numbers and payment card expiration dates.

Customers who stayed at a Starwood property should closely monitor their financial accounts, change their Starwood Prefered Guest passwords along with any other accounts where they may have used that password, and monitor their Starwood preferred guest account for suspicious activity.

Data breach period:  Customers with additional questions that are located within the United States should call Marriott’s data breach support hotline at: 877-273-9481

Data breach period:  2014 to September 10, 2018

Facebook Newsroom security update: Link

More coverage of this breach: NBC News and Washington Post

T-Mobile has announced that hackers have stolen the personal data of around 2 million of its customers. While passwords, credit card numbers, and Social Security numbers were not stolen, personal information including usernames, billing zip codes, phone numbers, email addresses, account numbers, and whether customers prepaid or postpaid their accounts has been compromised.

Description of the breach: Around 2 million of T-Mobile’s 74 million customers have had their personal information compromised. While T-Mobile was able to regain control of its system, many of its users have had personal information like their name, billing zip code, phone number, email address, account number, and whether they prepaid or postpaid breached. Fortunately in this attack, hackers did not access users passwords or Social Security numbers.

T-Mobile has promised to finish reaching out to all affected users shortly. Customers with questions or concerns should contact T-Mobile by dialing 611 from their T-mobile device, or chatting with the company through the T-mobile App.

Data breach period:  Prior to August 20, 2018

T-Mobile’s letter to customers: link

More coverage of this breach: The Verge and ABC News

On April 1, 2018, Lord & Taylor and Saks Fifth Avenue announced that their luxury clothing stores were the subject of a data breach. The data breach is believed to have compromised 5 million customers’ payment card information. Shoppers who used a credit or debit card at any retail location between  May 2017 and April 2018 are likely to be affected.

Announced: April 1, 2018

Description of the breach: Luxury clothing retailers Lord & Taylor, Saks Fifth Avenue, and Saks OFF 5th announced that they were the subject of a data breach. The breach is thought to have compromised 5 million credit and debit card numbers. The breach is believed to have affected all Lord & Taylor, Saks Fifth Avenue and Saks OFF 5th North American locations.

Customers who were affected have or will likely receive communications from their banks with instructions on what to do in the following days.  In the meantime, customers of Lord & Taylor, Saks Fifth Avenue and Saks OFF 5th, should monitor their credit and debit card statements and report any unauthorized activity immediately to their financial institution.

Data breach period: May 2017 to April 2018

Saks 5th Avenue data breach hotline:  1-855-270-9187

Official statement and F&Qfrom Saks 5th Avenue: https://www.saksfifthavenue.com/include/aem/aem_static.jsp?page=security-information-notice&site_refer=EML

More coverage of this breach: Reuters and Fortune