Experian Data Breach

Data breach at Experian by fraudster pretending to be a client, managing to get the credit info and personal details of 24 million South Africans.

Experian is one of South Africa’s biggest credit bureaus. They recently had to admit that someone had fraudulently gained access to credit and personal info of about 24 million South African credit users.

Were They ‘Hacked’?

With the Experian data breach, it wasn’t a traditional “hack” as you might think of. The information was simply gained by the fraudster pretending to be a client of Experian and asking for the info.

Experian were quick to inform Sabric and other Law enforcement agencies who quickly sprung into action to track down the perpetrator.

The person and the computers where the information was being kept was tracked down by the Authorities immediately. They were then able to swoop in and seize the machines to prevent the information being spread further.

Has Your Data Been Sold ?

According to Experian and Sabric, it has not and they have recovered all the information that was illegally obtained. They are claiming that the person never sent that information to anyone else or made copies of it etc.

The fraudster had indeed planned to sell off the information to others. Perhaps to use the information to either try scam people or simply to circumvent PoPI restrictions. It seems the main plan was to sell the info to people who offer marketing leads to companies that offer insurance and other credit related services.

The major banks have been sending out reminders to clients to be on the watch for suspicious transactions or the opening of new accounts. So, it seems they are less convinced than Experian would like everyone to be calm and not panic.

Did All Your Passwords and Login Details Get Stolen?

With the Experian data breach what was illegally obtained was personal info about you and your credit use. This sort of information could be used by fraudsters pretending to be your bank to gain access to your account.

So, it is wise to be wary of any such calls from people saying they are your bank or a credit provider asking you all sorts of weird questions. Also, you should beware of any emails asking you to login to your bank accounts suddenly.

Worried?

If you are worried that your information has been used by a scammer get in touch with the South African Fraud Prevention Services (SAFPS) who may be able to assist (and also your bank – whichever one may be involved). Do not delay rather be wrong about not being ripped off than leave it too long and let people steal from you.

Please contact us should you require any assistance with managing your finances during this time.

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