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How to freeze your credit after National Public Data breach

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2 years ago

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So far, 2024 has been a huge year for data breaches.

There had already been more than 1 billion personal records compromised before the National Public Data breach that has been making headlines, according to Michael Bruemmer, head of global data breach resolution at consumer credit reporting company Experian.

National Public Data, a background check company, was alleged to have made 2.9 billion records vulnerable in a recent lawsuit. The company has said the actual number of records exposed is much lower, around 1.3 million.

The breach, however, may be bigger than the company is reporting, according to Bruemmer, based on the data Experian has mined from the breach.

National Public Data did not respond to requests for comment from CNBC.

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“It’s a big deal,” Bruemmer said, and it follows other recent sizeable breaches from Change Healthcare, AT&T and Ticketmaster.

Stolen data typically ends up on the dark web, where hackers will dump the information and often attempt to resell it.

The dark web is a part of the internet made up of hidden sites you can’t find through conventional search engines. Unlike credit files, which can be disputed and updated, information on the dark web can’t be brought back or deleted.

“Once it’s out there, it stays,” Bruemmer said.

Freezing your credit can take just minutes

To protect your data, experts say freezing your credit should be a priority.

“Freezing your credit is the single most important thing you can do when you get a data breach notice,” James E. Lee, chief operating officer at the Identity Theft Resource Center, a nonprofit working to minimize the risk of identity theft, recently told CNBC.com.

The good news is the process can be done in just minutes, Bruemmer explained.

A credit freeze will limit access to your credit report and prevent the opening of new accounts in your name, either by you or other parties.

Notably, freezing your credit is free.

Identity theft is where bad actors are focusing their attention, says CyberArk CEO

What’s more, a credit freeze will last until you remove it, which can be done either temporarily or permanently.

If you want to apply for new credit — for a credit card or auto loan, for example — you will have to unfreeze your report.

“I’d recommend a freeze if you suspect that you might have been impacted by a breach, or you just want to have good identity hygiene,” Bruemmer said.

To effectively freeze your credit, you will need to complete the process at all three major credit reporting agencies — Equifax, Experian and TransUnion. This will require setting up free online accounts with each agency. You can request a freeze by phone or mail, but online is usually the fastest option, experts say.

It’s also a good idea to look at your free credit report to monitor the latest activity to ensure there are no errors, experts suggest.

When to freeze children’s records

Because of the size of the National Public Data breach, children’s information may also have been stolen, according to Bruemmer.

For that reason, parents should be on the lookout for signs that data about their children may have been compromised, such as unsolicited credit card offers, tax bills from the IRS or notices from bill collectors.

Whether it makes sense to freeze a child’s credit depends on whether a file on them exists, Bruemmer said.

“Most children will not have a credit file, and we don’t recommend placing a freeze on a child’s file that the bureau would have to create,” Bruemmer said.

Parents can try to pull a free credit report on their children annually at AnnualCreditReport.com. If a credit file exists, parents and children would want to freeze it, Bruemmer said.

Other tips to keep your personal data secure

Freezing your credit is a just a first step among the precautions you should take to protect your personal data.

Changing passwords to make sure you have unique codes for each website can help. An online password manager can help generate long and complex passwords and also store them in one place, Bruemmer said.

Two factor authentication or encryption — which requires more than one way of verifying your identity when logging into accounts — can also help prevent bad actors from gaining access to important information.

It also helps to remove personal information on social media that can be used by identity thieves, Bruemmer said.

Consumers may also consider setting up alerts on their accounts to keep them up to date on the latest activity.

Additional services may be purchased to alert individuals when their information has been posted on the dark web or monitor whether a credit file has been established for a minor, Bruemmer said.

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$20,000 Caution Bond Requirement for US Visa Applications imposed on 50 Countries

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7 days ago

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August 8, 2026

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The United States Department of State has officially implemented a revised visa policy introducing a mandatory posting requirement for caution payments of up to $20,000 on select foreign travel applications. Under the updated regulatory framework, consular officials are authorized to require temporary nonimmigrant visa applicants from targeted foreign countries to post a refundable financial bond of $20,000 as a condition for visa issuance. The policy mechanism is designed to address diplomatic concerns regarding high overstay rates among temporary visitor, business, and educational visa categories.

The caution bond pilot program applies selectively to foreign nationals from designated countries whose diplomatic entities record historical visa overstay rates exceeding established federal thresholds. Under administrative guidelines published by the State Department, the full financial deposit is posted directly to a dedicated federal escrow account prior to final visa issuance. The entire caution payment is automatically refunded to the applicant upon verified proof of timely departure from the United States in strict compliance with the authorized duration of stay. Conversely, failure to depart within the legal timeframe results in full forfeiture of the posted financial bond to the United States government.

Diplomatic representatives and travel policy experts have expressed varying perspectives regarding the operational implementation of the caution bond system. Administration officials emphasize that the measure serves as an effective, market-based incentive to enforce international travel compliance and preserve domestic immigration security standards. However, international trade organizations and foreign diplomatic missions have raised concerns regarding the financial burden imposed on legitimate business travelers, foreign students, and commercial partners from developing nations.

The United States finalized the rule to make the temporary visa bond program permanent, taking effect on August 3, 2026. The updated permanent regulation replaces the prior 12-month pilot, eliminates the lowest $5,000 tier, and raises the maximum required bond amount to $20,000 for specific B-1/B-2 business and tourist visa applicants.

Here is the list of the 50 countries on the list as o August 3, 2026

African Nations (31 Countries)

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burundi
  • Cabo Verde (Cape Verde)
  • Central African Republic
  • Côte d’Ivoire (Ivory Coast)
  • Djibouti
  • Ethiopia
  • Gabon
  • The Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Lesotho
  • Malawi
  • Mauritania
  • Mauritius
  • Mozambique
  • Namibia
  • Nigeria
  • São Tomé and Príncipe
  • Senegal
  • Seychelles
  • Tanzania
  • Togo
  • Tunisia
  • Uganda
  • Zambia
  • Zimbabwe

Asian & Eastern European Nations (11 Countries)

  • Bangladesh
  • Bhutan
  • Cambodia
  • Georgia
  • Kyrgyzstan
  • Mongolia
  • Nepal
  • Papua New Guinea
  • Tajikistan
  • Turkmenistan
  • Uzbekistan

Caribbean & Latin American Nations (5 Countries)

  • Antigua and Barbuda
  • Cuba
  • Dominica
  • Grenada
  • Venezuela

Oceanian Nations (3 Countries)

  • Fiji
  • Tonga
  • Vanuatu

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Next-Generation Retirement Planning: Managing Longevity Risk and Variable Income Streams

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1 week ago

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August 7, 2026

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Retirement planning strategies are evolving in 2026 to address increased life expectancies, shifting dynamic market conditions, and the transition away from traditional defined-benefit pensions. Individual investors and financial advisors are abandoning rigid retirement models in favor of flexible, multi-asset strategies designed to mitigate longevity risk and preserve purchasing power over multi-decade retirement horizons.

Mitigating Longevity Risk with Dynamic Asset Allocation
As average life expectancies extend past eighty-five years, one of the primary financial risks facing retirees is outliving their accumulated wealth. Traditional fixed income allocations—such as the standard 60/40 equity-to-bond portfolio—are being reevaluated to ensure portfolios generate sufficient capital growth alongside reliable income.

Financial planners recommend maintaining a meaningful equity allocation throughout retirement to offset long-term inflation erosion. High-dividend equity funds, global real estate investment trusts (REITs), and inflation-indexed Treasuries are combined to create diversified portfolios that deliver both growth and income stability.

The Transition to Dynamic Withdrawal Strategies
The classic “4% safe withdrawal rule” is increasingly replaced by dynamic withdrawal strategies that adapt annually based on market performance. Under a dynamic withdrawal framework, retirees adjust their annual distribution rates within pre-set caps and floors:
– Market Upside: During strong market returns, retirees can increase discretionary spending or fund family legacy gifts.
– Market Downturns: During market pullbacks, spending distributions are temporarily reduced to prevent sequence-of-returns risk and preserve core investment principal.

Guaranteed Lifetime Income Options and Deferred Annuities
To establish a guaranteed baseline for essential living expenses, individuals are incorporating modern fixed-indexed and deferred longevity annuities into their broader retirement architectures. Modern annuity structures offer competitive return caps, transparent fee schedules, and inflation-adjustment options.

By funding essential expenses—such as housing, healthcare, and insurance—with guaranteed income streams from Social Security, pensions, and annuities, retirees can manage discretionary investment portfolios with greater flexibility and lower emotional stress during market volatility.

Actionable Steps for Future Retirees
1. Calculate Baseline Retirement Expenses: Determine fixed living costs and map guaranteed income sources to cover essential expenditures.
2. Adopt Flexible Withdrawal Rules: Implement dynamic spending rules to protect investment principal against market downturns.
3. Incorporate Inflation-Protected Assets: Maintain exposure to dividend-growing equities and inflation-indexed bonds to safeguard long-term purchasing power.

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Building Generational Wealth: Family Governance, Estate Tax Optimization, and Asset Protection

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2 weeks ago

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August 1, 2026

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As the largest intergenerational transfer of wealth in history accelerates, high-net-worth families, entrepreneurs, and individual investors are placing heightened emphasis on comprehensive estate planning, family governance, and asset protection. Preserving capital across generations requires a balanced approach combining tax-efficient legal structures with open family communication and financial literacy education.

Optimizing Estate Tax Exemptions and Trust Structures
With potential modifications to federal estate tax exemption thresholds on the horizon, proactive estate planning is essential for high-net-worth households. Estate planning attorneys and wealth advisors are establishing multi-generational trust structures to transfer wealth efficiently while minimizing estate and gift tax exposure.

Popular structural strategies include:
– Irrevocable Life Insurance Trusts (ILITs): Utilizing life insurance proceeds to provide liquidity for estate tax obligations without expanding the taxable estate.
– Grantor Retained Annuity Trusts (GRATs): Transferring rapidly appreciating assets to beneficiaries with minimal gift tax consequences.
– Dynasty Trusts: Preserving wealth across multiple generations while providing long-term asset protection from creditor claims and legal liabilities.

Establishing Family Governance and Financial Education
Legal and financial structures alone cannot guarantee long-term wealth preservation without effective family governance. Financial advisors report that a significant percentage of multi-generational wealth dissipation stems from lack of communication and inadequate financial preparation among heir generations.

Families are establishing formal family governance frameworks, including periodic family meetings, written mission statements, and structured philanthropic foundations. Involving younger family members in charitable grant-making and investment discussions fosters financial stewardship and prepares heirs to manage family assets responsibly.

Digital Asset Custody and Legacy Planning
In today’s modern economy, estate planning must extend beyond physical real estate and traditional brokerage accounts to encompass digital assets. Comprehensive estate plans now include detailed inventories and legal access protocols for corporate domain names, intellectual property, digital media rights, and cryptocurrency holdings.

Fiduciaries and estate executors should be provided with secure, encrypted access mechanisms and clear legal authority to manage and transfer digital holdings in accordance with the owner’s estate directions.

Practical Steps for Legacy Planning
1. Review and Update Estate Documents: Ensure wills, revocable trusts, and power-of-attorney designations accurately reflect current family structures.
2. Establish Structured Trusts: Utilize irrevocable trusts to protect assets from creditors and minimize future estate tax liabilities.
3. Create a Digital Estate Inventory: Document access protocols and legal permissions for all online accounts, intellectual property, and digital assets.

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