Our Daily Breach 2024/10/08
Credit Monitoring firm CreditRiskMonitor gets breached. Quis custodiet ipsos custodes?
In this age of daily breaches, one of the most common ways corporate loves to say "we're sorry" before repeating the same mistake again is to offer you free credit monitoring (for a limited time).
On the surface this sounds like a nice gesture of reconciliation, but if you read the fine print of what credit monitoring services generally offer, they don't actually do anything to prevent your identity being misused; they just let you know after the fact.
In addition to credit monitoring being a short-term, ineffective solution for identify fraud - one must also consider what happens if the company monitoring your identity is breached. For some unfortunate individuals, this isn't a hypothetical concern.
As per their Securities and Exchange Commission filing today, the credit monitoring service CreditRiskMonitor.com has reported that an unspecified amount of data between July 9 and July 17 was stolen by hackers. The pilfered files included personally identifiable information of employees and independent contractors, but does not include customer data, CreditRiskMonitor noted.
