The Equifax hack has shown not just how easy it can be for the bad guys to get hold of personal information from major repositories like the Equifax database, but also highlights the need for employers to be aware that such hacks put employees’ personal data at risk.
In particular, 401(k)s could be targeted by those who managed to snatch the information, according to the Society for Human Resource Management.
It points out in a report that Equifax is by far not the only holder of sensitive information that could be used and abused by cybercriminals. In fact, last year the Chicago Tribune reported that the retirement accounts of 91 municipal employees had been breached.
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