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Archive for October 23rd, 2017

Good News: Fewer Canadians Affected In Equifax Breach

Back in September, Equifax reported a breach that affected over 143 million of its customers. As one of the premier document destruction services in Toronto, here at Absolute Destruction, our primary concern was how this attack would affect Canadian customers. Now, several weeks after we first posted about the breach, we have our answer.

An Ongoing Investigation Offers More Info

Since the initial report, Equifax hired Mandiant, a cybersecurity firm to reveal details about the attack. The investigation is far from over, but Mandiant has revealed the number of Canadians affected by the breach is much lower than originally thought. It reports that 8,000 Canadian customers’ information was compromised, a number far off from the preliminary figure of 100,000 first reported.

While Mandiant’s investigation confirmed the Canadian impact was much smaller, it has revealed an additional 2.5 million US customers were involved in the breach, bringing the total number of those affected to 145.5 million.

Former Equifax CEO, Richard Smith, is currently under investigation as he testifies before Congress about his involvement in the breach. He’s to explain how long he and other executives knew about the attack before they did anything to rectify the issue.

Americans Have More Recourse Than Canadian Customers

He’s replaced by interim CEO, Paulino do Rego Barros Jr., who apologizes on behalf of Equifax for its slow and inadequate response to the breach. On September 27, he penned a letter published by The Wall Street Journal. In it he acknowledges the company compounded the problem by offering “insufficient support”. As a result, he promises free credit locking for any American who had their personal information stolen.

Freezing a credit report is the most effective defence against identity theft in these circumstances, but it’s not yet a service available in Canada. Equifax Canada is offering free credit and identity theft monitoring for a year for any Canadian compromised in the breach. These services, in addition to fraud alerts, are the only tools available so far.

How Do You Know If Your Information Is Compromised?

Like we reported in our post, US Equifax Website Hacked, Canadians Amongst Millions Affected, you can head to Equifax’s special website to see if you were impacted by the breach. Equifax is also cooperating with MasterCard and Visa to alert any affected customers. If one of your credit cards was involved in the breach, you’ll be contacted by your financial institution.

What’s Next For Canadians?

Even if you aren’t one of the 8,000 customers affected by the breach, the attack provides a reminder about the importance of security. Security breaches are becoming more and more common these days, so you need to be vigilant about how you store and share your personal information.

As a consumer, you can watch your credit carefully by watching for any suspicious activity in any of your accounts. If you suspect you’re a victim of fraud, set a fraud alert on your credit report. This signals to credit companies that you account may be compromises, so they’ll treat any changes to your file carefully in case someone is attempting to open new accounts in your name.

As a business owner, you must ensure your security strategies are thorough. Your plan should involve comprehensive online security measures, physical security for storage, and staff education. You also need document shredded at your office to make sure your company is doing everything within its power to protect its intellectual property and its customers’ personal information. If you don’t, you risk exposing confidential information.

There are laws in Canada that make these security steps mandatory, so don’t get caught with an deficient security plan. If you do, you can face expensive fines and irreparable damage to your reputation. As one of the fastest growing municipalities in the GTA, we know a lot of our corporate customers are located in Vaughan. Businesses have been trusting us as their number one shredding company in Vaughan for over a decade, so please give us a call if you need help boosting your security plan this fall.

Whether you suspect you’re one of the many victims involved in Equifax’s security breach or not, we welcome your call about secure document shredding. If you’re ready to talk about paper shredding, electronic data destruction, or recycling, then pick up the phone!

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