If you are a victim of a data breach, you can suffer a wide range of consequences depending on the exact data leaked, as well as the measures taken to protect yourself. However, if you never learn of the breach or don’t take proactive measures, you might find yourself a victim of identity, medical, and financial fraud.
Data breaches are becoming more common each year; 2021 and 2022 were record-setting years with roughly 1,850 data breaches each, but 2023 blew that record away with 2,100 data breaches by the end of September. Society’s increasing reliance on virtual information storage and the negligence of many companies have created a perfect storm for hackers to steal more data than ever. But when corporations are the victims of data breaches, you pay the price with your security and peace of mind. However, you can face the dangers of a data breach and come out okay if you know how to handle it.
After a data breach, hackers often sell information for others to use in fraud. Hacking is a profit-driven crime, with more than 86% of attacks seeking financial gain in recent years. These criminals prefer to target companies with more sensitive data. Matching pairs of Social Security numbers and names is the worst scenario, as this is sufficient to commit identity fraud and open lines of credit in your name. However, hackers can also use your financial information to steal your money, or use medical information to fraudulently use your healthcare resources.
Identity theft related to a data breach can impact your credit score, because cybercriminals will try to spend as much money in your name as possible, as quickly as possible. These actions can devastate your credit score by using an excessive amount of credit, as well as through defaulting on payments. As a consequence, employers who conduct credit checks will be more likely to turn you away.
The damages you suffer from a data breach never just go away. While you can replace credit and debit cards or change your insurance information, your Social Security number is for life. If a data breach compromises your name and SSN, you’ll have to take caution to protect your identity moving forward. One of the most powerful ways to protect your identity is to reach out to the major credit bureaus and put out a freeze on your credit. Whenever you want to open a new line of credit, release this freeze and then freeze your credit again once you’re done.
Once you get a data breach notification letter, you need to read it closely and learn exactly what information the hackers stole. From there, opt into any identity protection services that the letter includes, and then reach out to a data breach lawyer.
If you’re a data breach victim who doesn’t know what to do next, reach out to our team of experienced If you are a victim of a data breach, you can suffer a wide range of consequences depending on the exact data leaked, as well as the measures taken to protect yourself. who will assess your case, offer guidance on your next steps, and counsel you on your legal options. Reach out today to schedule a free case evaluation and take your first step toward justice.