The credit monitoring firm Experian South Africa division announced on its website that they experienced a data breach on Wednesday, August 19.
According to the announcement, Experian is curtailing the event concerning a fraudster. The attacker acted as a representative of a real company and approached them for services. It supplied information that is readily accessible and given through a typical business operation.
The department also discovered the perpetrator would use the data collected in generating “marketing links to insurance and credit-related facilities.”
Experian South Africa stated that their compliance mechanisms are not infringed. The software itself isn’t breached, too. Also, the agency said they already secured their South African customer’s information. Still, the agency did not specify the number of users impacted.
The South African Banking Threat Center (SABRIC) estimated that the data breach impacted 24 million South Africans and 793,749 local companies.
Experian said domestic banks are working behind the scenes to identify how their customers may have been impacted by the breach.
Experian apologizes over hacking incident
Soon after the accident’s detection, Experian South Africa notified the National Credit Regulator and the knowledge regulator promptly. Even the department reported the event to local officials who were investigating the fraudster. Authorities also asked Experian to get the “stolen pieces of data” through a judicial order. Additionally, the company already preserved and erased the stolen data.
Experian has ensured that the hackers did not steal any credit-related or financial details. The attackers just obtained personal data that is exchanged during a “regular business path.”
The department underscored that the hackers “will not use” any stolen data in any illegal operation. According to Experian, the databases are safe and intact.
South African privacy authorities will open a lawsuit surrounding the event because they find the data concerned to have been too sensitive.
Ferdie Pieterse, CEO of Experian Africa, apologized for the discomfort the event brought in. “Our first priority is to help and support consumers and businesses in South Africa,” he said.
How to check credit report
Experian also told its clients to review their credit report periodically to stop any anomalies. A credit report is a description of an individual’s financial background. The data contains the borrower’s name, Social Security number, address, credit cards, and loans. It will also show how many loans the individual have and whether or not they pay their bills on time.
Particularly when the individual intends to obtain funding or loans for schooling, business, lodging, family, or other reasons. Financing companies should review the credit record of the person before they would lend him money.
To review Experian’s credit score, just boot the device and visit the online www.mycreditcheck.co.za.
Additionally, every year people may receive a complimentary sample of their credit score. Three major credit rating agencies, TransUnion and Equifax, and Experian, will also have their data. Which implies an individual can provide a total of three records.
An individual may access free credit reports by calling Annual Credit Report at 1-877-322-8228 or via the AnnualCreditReport.com website.