T-Mobile Offers Free Credit Monitoring

By Douglas A. McIntyre Published Oct 2, 6:37AM EDT

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Data held by one of the divisions of security firm Experian was hacked, and some information on a server that held T-Mobile US Inc. (NYSE: TMUS) data was compromised. For any T-Mobile customers who worry one of their files was hacked, the company has offered two years of free credit monitoring and identity tracking. As with many breaches, the offer to potentially affected customers does not appear meaningful compared to the threat.

T-Mobile’s CEO said:

I’ve always said that part of being the Un-carrier means telling it like it is. Whether it’s good news or bad, I’m going to be direct, transparent and honest.

We have been notified by Experian, a vendor that processes our credit applications, that they have experienced a data breach. The investigation is ongoing, but what we know right now is that the hacker acquired the records of approximately 15 million people, including new applicants requiring a credit check for service or device financing from September 1, 2013 through September 16, 2015. These records include information such as name, address and birthdate as well as encrypted fields with Social Security number and ID number (such as driver’s license or passport number), and additional information used in T-Mobile’s own credit assessment. Experian has determined that this encryption may have been compromised. We are working with Experian to take protective steps for all of these consumers as quickly as possible.

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Also:

Experian has assured us that they have taken aggressive steps to improve the protection of their system and of our data.

Anyone concerned that they may have been impacted by Experian’s data breach can sign up for two years of FREE credit monitoring and identity resolution services at www.protectmyID.com/securityincident.

And:

At T-Mobile, privacy and security is of utmost importance, so I will stay very close to this issue and I will do everything possible to continue to earn your trust every day.

Credit card and bank information were not taken. Some more important things may have been: names, addresses and Social Security numbers.

Experian management said it was sorry, and will try not to let it happen again.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.