REGIONS BANK 401K PARTICIPANTS AT RISK FOR ID THEFT – ERNST & YOUNG LOSES JUMP DRIVE
Current and former employees of Regions Bank are being mailed data loss notification letters concerning a recent data loss. According to the data loss notification letters from Regions Bank and Ernst & Young, a jump drive containing Regions’ 401K participants’ personal identifying information was lost in the mail. The jump drive was purportedly encrypted, but the password restricting access to the data was included in the same package as the lost jump drive!
As a result, thousands of Regions employees and former employees are at risk for identity theft. While Regions is offering one year of credit monitoring to the victims. What will happen to the identity theft victims after the credit monitoring expires? Afterall, the victims’ Social Security numbers and date of birth will not change after one year.
Why did I receive a data loss letter from Regions and Ernst & Young?
You received the letter because Regions believes your personal information was on the lost jump drive. Under most state laws, companies have to notify you when your Social Security number or other personal information has been lost or stolen. Alabama does not have a breach notification laws. Because Alabama residents are being mailed data loss letters, this indicates to me that Regions or Ernst & Young are also notifying residents of states that require such notice.
What should you do if you receive a Regions or Ernst & Young data loss notification letter?
If you receive a letter from Regions or Ernst & Young, you should read it carefully, especially before you sign up for credit monitoring or release Regions or Ernst & Young of any wrong-doing. Recipients the data loss letter should take the following actions:
- Contact all three nationwide credit reporting agencies and request a fraud alert on your file.
- Request a free credit report from Equifax, Experian and Trans Union because you believe you are a victim of fraud or identity theft.
- Ask for a new 401K account number.
- Contact a lawyer who handles identity theft cases to discuss your legal rights.
Click HERE to learn more about identity theft and your legal rights. Contact identity theft and data security attorney Micah Adkins for a free consultation and identity theft information kit 24/7 at 1-800-263-9091. Or, contact us online now using the form below.
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