From US News
6 Myths About Credit Freezes
A credit freeze won’t stop someone from running up a balance on an existing credit card or draining a bank account or filing a fake tax return in your name. For the latter, the best defense is to file your 2017 tax forms as soon as possible. For everything else, monitoring accounts for suspicious activity is crucial.
Still, a freeze does have benefits. Most importantly, it makes the stolen data significantly less valuable to crooks. “If you block the exchange where people turn the data into money, there’s no currency for it,” says Jerry Linebaugh, founder of JLine Financial in Louisiana.