To assist more than 153,000 New Yorkers whose personally identifiable information was recently stolen from ECMC, a Minnesota-based guarantor of federal student loans, the State Consumer Protection Board (CPB) is recommending steps that affected borrowers can take to help prevent the possibility of falling victim to identity theft and financial fraud.
According to ECMC, the theft of data included the name, address, Social Security number and date of birth of 3.3 million people nationwide. It is believed to be one of the largest-ever breaches of student loan information. ECMC claims, however, that no savings, checking or credit card account numbers were included in the data theft. ECMC is sending written notification to affected borrowers this week.
The CPB recommends that affected New Yorkers:
- Get the facts from the notification: Read the letter from ECMC carefully to understand what happened and what the company is doing in response, including an offer for free coverage of identity theft protection service for one year.
- Place a fraud alert with the three credit reporting agencies: Report the breach to the three major credit reporting agencies by calling any one of the following toll-free fraud numbers: Trans Union 1-800-680-7289, Experian 1-888-397-3742 and Equifax 1-800-525-6285. You will reach an automated telephone system that allows you to flag your file with a fraud alert at all three agencies. A fraud alert can help stop an identity thief from opening new accounts in your name.
- Order your credit reports for free: You may order one free credit report from each of the three credit reporting agencies every twelve months. You can place your order online or by phone at www.annualcreditreport.com or by calling 1-877-322-8228. We recommend that you order one report from a different credit reporting agency every four months to help maximize your protection. Should you become aware that you are a victim of identity theft, you are entitled to an additional free credit report each year.
- Consider placing a security freeze on your credit reports. In most cases, a security freeze will block someone from opening a new account or borrowing money using your name or personal information. Under New York State law, the first security freeze is free.
- Watch for signs of fraud:
- Carefully read all financial and credit card statements. Be on the lookout for any unauthorized transactions.
- Read your credit reports and watch for signs of fraudulent activity, such as accounts you don’t recognize, especially accounts opened recently. Look in the inquiries section for the names of creditors from whom you haven’t requested credit. As a general precaution, check in the personal information section for any address listed for you where you’ve never actually lived.
- Close all compromised accounts. This is the best way to reduce your risk from a data breach.
- Retain all paperwork. Maintain a file documenting all the actions you have taken along with copies of all the letters you have written and the documents you have reviewed.
- Learn more about information privacy, including fraud alerts and security freezes, at http://www.nysconsumer.gov/internet_security.htm.
- Find general consumer protection resources at www.nysconsumer.gov.
- Should you have evidence that you are a victim of identity theft:
- File a police report. Under NY State law, you are entitled to a free copy.
- File a report and an affidavit with the Federal Trade Commission (FTC) to provide the details of your case. Visit www.ftc.gov or call 1-877-IDTHEFT.
- File a complaint online with the CPB at: http://www.nysconsumer.gov/complaint.htm. If you do not have access to the Internet, you may contact the CPB’s Consumer Helpline at 1-800-697-1220.
- Place an extended fraud alert on your credit file with the credit reporting agencies.
“New Yorkers affected by this large-scale breach should not panic, but exercise precautions and reach out to the Consumer Protection Board with their concerns,” said Mindy A. Bockstein, Chairperson and Executive Director. The CPB will continue to monitor developments in this breach.
The New York Department of State's Division of Consumer Protection serves as the state's top watchdog and think tank on a wide range of consumer related issues. Among the services it provides, the Division investigates and resolves consumer complaints, educates the public about product recalls, and represents consumers before public utilities and other state and federal agencies.