EXPLAINER | Experian data breach: What are credit bureaus and why they collect your data?

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Millions of people's personal information has been compromised.
Millions of people's personal information has been compromised.
Glenn Carstens-Peters on Unsplash

Major South African credit bureau Experian on Wednesday confirmed that it experienced a breach of data which has potentially exposed the personal information of as many as 24 million South Africans, the South African Banking Risk Information Centre (Sabric) said.

A number of South African banks had since issued warnings to consumers to be more vigilant and aware when contacted, and not release personal information to anyone who might be portraying themselves as a bank employee, as to avoid fraud.

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