December 23, 2024
By now, many people's Social Security numbers (SSNs)—one of the most critical pieces of personal data—have likely ended up on the dark web. Due to breaches at major corporations, government websites, and healthcare providers, millions of SSNs are circulating among cybercriminals. This is concerning, but how serious is it?
In short, it's very serious. Here's how a compromised SSN can disrupt your life, 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 crucial part of your identity in the U.S. With just this number, a hacker can access a wealth of financial and personal information, allowing them to impersonate you, secure loans, and potentially access sensitive accounts. Even if the effects aren't immediate, criminals can hold onto SSNs for years, waiting for the opportune moment to exploit them.
What Can Happen If Someone Has Your Social Security Number?
If your SSN falls into the wrong hands, it can lead to:
- Identity Theft: Fraudsters can use your SSN to open credit accounts, secure loans, or even file fraudulent tax returns in your name.
- Employment Fraud: Someone might use your SSN to get a job, potentially causing unexpected tax issues for you.
- Medical Fraud: Criminals might use stolen SSNs to receive healthcare under someone else's name, resulting in inaccurate medical records that could complicate future care.
Consider the Equifax data breach in 2017, which exposed the SSNs and personal information of 147 million people. Many of these individuals faced issues like fraudulent credit card applications and false tax returns, with some still dealing with the repercussions today. This case exemplifies the seriousness of SSN exposure and proves that it happens.
Signs Your Social Security Number Has Been Stolen
Concerned that your SSN might already be misused? Look 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 unrecognized accounts or inquiries from unfamiliar sources on your credit report.
- Tax Return Issues: Receiving IRS notifications about 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
Whether you've noticed some of these warning signs or just want to be cautious, here are ways to check and protect yourself:
- Monitor Your Credit Report: Begin by reviewing your credit report for any unknown accounts. You're entitled to a free credit report annually from each of the major credit bureaus (Experian, TransUnion, and Equifax). Regularly checking these reports can help you spot unusual activity.
- Use an Identity Theft Protection Service: Services like Experian IdentityWorks or LifeLock can monitor your SSN and alert you to suspicious activity. While they can't prevent identity theft, they can help you detect and address issues more quickly.
- Freeze Your Credit: Freezing your credit is an effective way to prevent fraud. It restricts access to your credit report, making it much harder for someone to open accounts in your name. You can freeze and unfreeze your credit for free with each of the three major credit bureaus.
- Sign Up for SSN Alerts: The Social Security Administration offers alerts for certain activities, like changes to your Social Security account. While not comprehensive, it's an additional layer of awareness that can help you catch fraud early.
What to Do Immediately If Your SSN Is Leaked
If you confirm that your SSN is compromised, take these immediate steps:
- 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 personalized recovery plan.
- 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 to ensure lenders take extra steps to verify your identity before issuing credit.
- Freeze Your Credit: If not already done, place a freeze on 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 can be valuable documentation for resolving issues with creditors.
- Notify Financial Institutions: Contact your bank and other financial institutions 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 personal information is crucial. A compromised SSN can lead to various security risks, including identity theft for employees and clients, unauthorized access to financial accounts, and potential data breaches. As businesses often store sensitive information, an SSN leak can expose both individuals and the business to legal, financial, and reputational risks.
Implementing a robust cybersecurity plan, including data encryption, network security, and employee education, 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 408-335-0353 to schedule a FREE Discovery Call and safeguard your business from costly cyberthreats.
