Equifax Breach

By now, you’ve probably heard about the Equifax data breach. Even though this breach did not occur within Bank of American Fork, we appreciate your concern about the safety of your personal and financial information. Here is what we understand about the situation:

On September 7, the credit reporting agency Equifax announced a breach of its website, exposing the personal information of approximately 143 million people.

According to Equifax, the company’s database was breached through a vulnerability on its website. Equifax learned about the hack on July 29. However, September 7 was the first day the company publicly announced the breach.

The hackers were able to acquire names, social security numbers, birth dates, home addresses and some driver’s license information. In addition, credit card numbers for an estimated 209,000 consumers, and certain dispute documents which included personal identifying information for approximately 182,000 consumers, were also accessed.

Although Bank of American Fork sends credit history to Equifax, the Equifax data breach did not occur within Bank of American Fork. We were not involved in any way and Equifax has not shared any specific information with Bank of American Fork that has not been shared with the general public.

We work daily to be vigilant in protecting our customers’ information by asking identifying questions before providing account information.

A security code on your account is an additional step in protecting your information. A security code is a word, number or phrase that is known only to you and the Bank. Any time we have phone contact with you, this code is required before we will share any information. You can also request to have this code required before any in-person transaction is made. You can set up this security code by going in to a Bank of American Fork location and visiting with a representative who will assist you.

You can learn more about this data breach and how Equifax is responding by visiting the Equifax website www.equifaxsecurity2017.com.

The Federal Trade Commission (“FTC”) also recommends five steps you can take now if you are concerned:

  • Check your free credit reports from Equifax, Experian and TransUnion for any unauthorized accounts by visiting annualcreditreport.com.
  • Monitor your existing credit card and bank accounts closely for charges you don’t recognize and call your financial institution immediately if something appears.
  • Put a fraud alert on your credit reports by notifying one credit agency, who is required to notify the other three. You’ll be contacted if someone tries to apply for credit in your name.
  • Sign up for a credit monitoring or an identity theft protection service.
  • If you’re really worried, put a freeze on your credit. There are fees associated with doing this and it may make applying for credit, employment, or housing more difficult.

Learn more about protecting your personal and financial information by visiting the “Security” section on our blog.

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