How useful, really, are the steps you can take after a data breach?

Key takeaways

The importance of being aware of data breaches and understanding your personal data protection.
Taking actionable steps after a data breach can help minimize potential harm to personal finances.
Utilizing free credit reports and monitoring services is essential in preventing identity theft.
Understanding fine print in any offered services like credit monitoring can protect your legal rights.
Maintaining strong passwords and using two-factor authentication are crucial in today's digital landscape.

Summary

The Season of Giving and Bonus Content

Hosts Kenny Malone and Amanda Aronchick open the episode in the spirit of the season by sharing a sample of their bonus content. Normally exclusive to Planet Money Plus supporters, they highlight some episodes that can be enjoyed by everyone, including movie club discussions related to economics and extended interviews.

Understanding Data Breaches

The conversation shifts to data breaches as Amanda shares extra insights from her recent episode covering the implications of personal data theft. The hosts discuss a data breach letter received by Kenny, which outlines recommended steps for individuals affected by a data breach. Amanda assures listeners that they will provide actionable advice and shed light on the reality of these recommendations.

Practical Steps After a Data Breach

The bulk of the episode focuses on discussing each recommendation in the data breach letter. The hosts cover practical advice such as requesting free credit reports, enrolling in credit monitoring services, contacting the FTC, placing fraud alerts on credit files, and considering a security freeze. Kenny and Amanda reflect on the usefulness of these steps, pointing out their benefits and potential pitfalls.

The Broader Implications of Data Security

The conversation concludes with thoughts on the broader implications of data security. They address the frustrations surrounding the responsibility placed on individuals to safeguard their data, while acknowledging that there also exists a market exploiting personal information. Amanda emphasizes the importance of staying vigilant and proactive in protecting personal data and credit information.

Show notes

The dreaded data breach notification... It tells you your personal data's been compromised and suggests steps you can take to minimize the potential harm. On today's episode, Kenny Malone pulls out a data breach letter he received and goes over what it recommends with Amanda Aronczyk. Amanda recently did a show about the legal and illegal markets for data and tells us how useful these steps actually are. It's news you can use to protect yourself, whether or not you've been part of a data breach!

This normally would be a bonus episode just for Planet Money+ listeners. With this being the season of giving, we're sharing this one with everyone! To hear more bonus content like this, regular episodes sponsor-free, and support the work of NPR, sign up for Planet Money+ at plus.npr.org.

Related links:
Data Breach Response: A Guide for Business (FTC)
Have you been affected by a data breach? (FTC)
Your Technology Is Tracking You. Take These Steps For Better Online Privacy (Life Kit)
What happens after you get scammed? Can you get your money back? (Planet Money)
Firewalls Don't Stop Dragons (cybersecurity and privacy podcast)
DeleteMe (personal data removal service)
Experian (credit bureau)
TransUnion (credit bureau)
Equifax (credit bureau)

Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.

See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.

NPR Privacy Policy