Capital One Data Breach - Is it Groundhog Day Again?

Derieck Hodges |

Actor Bill Murray starred in the 1993 movie Groundhog Day, where his TV weatherman character repeated the same day, Groundhog Day, over and over again.   Well, it is starting to feel like “Groundhog Day” with the constant stream of companies announcing data breaches.


Today, Capital One, the large credit card issuer, announced a breach that impacts over 100 million Americans.   If you are a current or former cardholder, or applied for a credit card, you may be impacted.   If so, Social Security numbers, some bank accounts, and most of your basic financial information (e.g. credit score, address, etc.) could be vulnerable.


What should you do now?

  • Even though Capital One suggests that passwords haven’t been compromised, it would be good to update your Capital One online password.
  • Use two-factor authentication when accessing your Capital One website, and any others.   This requires an additional code, usually sent by text message, to login.
  • Implement a credit freeze.   This locks your credit file from new credit inquiries.   This is the single best way to protect your credit and identity.  To learn more about credit freezes click here.
  • Capital One will offer credit monitoring to those impacted.   Signup for the monitoring so you have a constant alert system when your credit file changes.   With a credit freeze in place you shouldn’t see many changes, just updates on your current accounts.
  • Look at your online posture.   Do you keep your computer and phone operating systems updated?   Are you using an encrypted firewall on your home network?  Is the firewall firmware updated?  Are you using strong, and unique, passwords online?

The “bag guys” are actively working.   Now, with the use of automation, successful hackers have greater reach than ever before.   It is important that you actively are securing your financial house.  


We are here to help.   Call or write if you have questions.