December 23, 2024
By now, many individuals' Social Security numbers (SSNs), which are critical to their identity, have likely ended up on the dark web. Major breaches involving companies, government websites, and healthcare providers have resulted in millions of SSNs circulating among cybercriminals. This situation is concerning, but how serious is it really?
The answer is yes, it is serious. A compromised SSN can significantly disrupt your life, and it's important to understand how to determine if yours has been leaked and what steps to take if it has.
Is A Leaked Social Security Number Really That Serious?
Your Social Security number is a vital aspect of your identity in the United States. With just your SSN, a hacker can access a wealth of financial and personal information, enabling them to impersonate you, secure loans, and potentially infiltrate sensitive accounts. Even if you don't notice immediate effects, criminals can retain SSNs for years, biding their time for the right opportunity.
What Can Happen If Someone Has Your Social Security Number?
If your SSN falls into the wrong hands, it can lead to:
- Identity Theft: Criminals can use your SSN to open credit accounts, take out loans, or file fraudulent tax returns in your name.
- Employment Fraud: Someone could use your SSN to gain employment, resulting in unexpected tax complications for you.
- Medical Fraud: Some thieves exploit stolen SSNs to obtain healthcare services under another person's name, which can lead to inaccurate medical records that complicate your future care.
Consider the Equifax data breach in 2017, which exposed the SSNs and personal information of 147 million individuals. Many victims faced issues ranging from fraudulent credit card applications to false tax returns, with some still dealing with the consequences today. This case exemplifies the severity of SSN exposure and highlights that it can happen.
Signs Your Social Security Number Has Been Stolen
If you're concerned that your SSN may already be compromised, watch for these warning signs:
- Unexpected Mail: Receiving credit card offers, debt collection notices, or bills for accounts you didn't open.
- Credit Report Surprises: Discovering unfamiliar accounts or inquiries from unknown sources on your credit report.
- Tax Return Issues: Being notified by the IRS of multiple tax returns filed under your name or being denied an expected refund.
- Health Care Records: Noticing unfamiliar medical bills or strange entries in your medical records.
How To Check If Your SSN Was Leaked - And What You Can Do To Protect It
If you suspect your SSN is compromised or you want to verify its safety, consider the following steps to check and protect yourself:
Monitor Your Credit Report
Begin by reviewing your credit report for unfamiliar accounts. You can obtain a free credit report annually from each of the major credit bureaus (Experian, TransUnion, and Equifax). Make it a routine to check these reports for unusual activity.
Use An Identity Theft Protection Service
Services like Experian IdentityWorks or LifeLock can monitor your SSN and alert you if it's being used suspiciously. While they cannot prevent identity theft, they can help you detect and address issues promptly.
Freeze Your Credit
Freezing your credit is one of the most effective methods to prevent fraud. A credit freeze restricts access to your credit report, making it significantly more difficult for someone to open accounts in your name. You can freeze and unfreeze your credit for free with the three major credit bureaus.
Sign Up For SSN Alerts
The Social Security Administration offers an option to set up alerts for certain activities, such as changes to your Social Security account. While not exhaustive, this provides an additional layer of awareness that can help you detect fraud early.
What To Do Immediately If Your SSN Is Leaked
If you confirm that your SSN has been compromised, take the following actions immediately:
File A Report With The FTC
Visit IdentityTheft.gov to file a report with the Federal Trade Commission. This site will guide you through a recovery plan tailored to your situation.
Contact The Credit Bureaus
Inform the credit bureaus (Experian, Equifax, and TransUnion) that your SSN has been compromised. Place a fraud alert on your credit report, requiring lenders to take extra steps to verify your identity before issuing credit.
Freeze Your Credit
If you haven't done so already, freeze your credit report to prevent new accounts from being opened in your name.
File A Police Report
If the identity theft has resulted in financial loss or involves criminal activity, consider filing a report with your local police department. This documentation can be useful for resolving issues with creditors.
Notify Financial Institutions
Contact your bank and any other financial institutions where you hold accounts to inform them that your SSN has been compromised. They can place alerts on your accounts and monitor for suspicious activity.
Protecting Your Business: Why Cybersecurity Matters
For small and medium-sized businesses, safeguarding Social Security numbers and other personally identifiable information is crucial for security. A compromised SSN can lead to various security threats, including identity theft for employees and clients, unauthorized access to financial accounts, and potential data breaches. Since businesses often hold sensitive employee and client information, an SSN leak can expose both individuals and the business to legal and financial risks, as well as damage its reputation.
Implementing a robust cybersecurity strategy, including data encryption, network security, and employee training, is essential for protecting sensitive information and preventing data leaks.
If you need help securing your business against data breaches and identity theft, our cybersecurity team is here to support you. Click here or give us a call at 713-565-4832 to schedule a FREE Schedule A Discovery Call and safeguard your business from costly cyberthreats.
