TIAA Data Breach

By
Will Gendron
Mar 15, 2024 11:06 AM
The TIAA data breach may have exposed sensitive personal information, including user IDs, passwords, Social Security numbers, home addresses, and account details. TIAA has responded by implementing additional security measures and offering complimentary credit monitoring and identity theft insurance. Affected individuals are advised to update their credentials, monitor their accounts, and consider placing a credit freeze or fraud alert on their credit file.
TIAA Data Breach

The May 2024 Data Breach at TIAA

What Happened?

The recent security incident at Teachers Insurance and Annuity Association of America (TIAA) involved unauthorized access to customer accounts using correct user IDs and passwords. The breach was identified when unknown parties accessed accounts with credentials sourced from outside TIAA's systems. This breach has raised significant concerns regarding the security measures previously in place and the potential exposure of sensitive personal information.

Information Exposed

The types of consumer information that were potentially accessed include:

  • User ID
  • Password
  • Online credentials
  • Account access
  • Social Security number
  • Home address
  • Credit file
  • Personal information
  • Experian credit report
  • Credit Monitoring
  • Internet Surveillance
  • Identity Restoration
  • Identity Theft Insurance
  • Lost Wallet
  • Child Monitoring
  • Medical bills
  • Explanation of benefits statements
  • Payment card account statements
  • Credit reports

Teachers Insurance and Annuity Association of America's Response

Upon discovering the breach, TIAA acted swiftly to mitigate the damage by shutting down compromised accounts and resetting passwords to prevent further unauthorized access. The company has also enhanced monitoring and protection measures on affected accounts to safeguard against future incidents. Additionally, TIAA is offering affected customers two years of complimentary access to Experian IdentityWorksSM, which includes credit monitoring, identity restoration services, and identity theft insurance. More details on how to enroll in these services are provided in the consumer notice available here.

Steps to Take if You Are Affected

If you believe your information was compromised in this breach, it is crucial to act immediately to protect your identity and financial health:

  1. Change your passwords for TIAA and other online accounts, especially where you use the same credentials.
  2. Enable two-factor authentication on all accounts that offer it, adding an extra layer of security.
  3. Monitor your financial statements and credit reports closely for signs of unauthorized activity. You can obtain a free credit report from each of the three major credit reporting agencies at AnnualCreditReport.com.
  4. Consider placing a fraud alert or a credit freeze on your credit files, which makes it harder for identity thieves to open accounts in your name.
  5. Take advantage of the offered credit monitoring service to stay informed of changes to your credit file.

About Teachers Insurance and Annuity Association of America

TIAA is a leading retirement provider for people working in the academic, research, medical, and cultural fields. The company was founded with the mission to help educators retire with dignity and now serves over 5 million clients, providing financial services and asset management.

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Consumer Notice

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