December 23, 2024
By now, it's likely that many people's Social Security numbers (SSNs), one of the most critical pieces of personal data, have ended up on the dark web. This is due to breaches at major corporations, government sites, and healthcare providers, resulting in millions of SSNs circulating among cybercriminals. While this is concerning, you might wonder if it's truly a significant issue.
Spoiler alert: it is. Here's why having your SSN compromised can be devastating, how to check if yours has been exposed, and what steps to take if it has.
Is a Leaked Social Security Number Really That Serious?
In the US, your Social Security number is a crucial part of your identity. With access to your SSN, a hacker can unlock a wealth of financial and personal information, enabling them to impersonate you, take out 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: Criminals can use your SSN to open credit accounts, secure loans, or file false 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: Some criminals use stolen SSNs to receive healthcare under another person's name, leading to inaccurate medical records that can complicate future care.
Consider the Equifax data breach in 2017, which exposed the SSNs and personal information of 147 million people. Many victims experienced issues like fraudulent credit card applications and false tax returns, with some still dealing with the aftermath. This case exemplifies the seriousness of SSN exposure and proves that it can happen.
Signs Your Social Security Number Has Been Stolen
Concerned that your SSN might already be misused? Look out for these warning signs:
- Unexpected Mail: Receiving credit card offers, debt collection notices, or bills for accounts you didn't open.
- Credit Report Surprises: Your credit report shows accounts you don't recognize or inquiries from unfamiliar sources.
- Tax Return Issues: The IRS notifies you of multiple tax returns filed under your name, or you're denied an expected refund.
- Health Care Records: 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 steps to check and protect yourself:
- Monitor Your Credit Report: Start by reviewing your credit report for any unfamiliar accounts. You're entitled to a free credit report annually from each of the major credit bureaus (Experian, TransUnion, and Equifax). Regularly check these reports for signs of 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 can't prevent identity theft, they can help you detect and address issues more quickly.
- Freeze Your Credit: Freezing your credit is one of the most effective ways to prevent fraud. A freeze 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 through 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 extra 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 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 to ensure lenders take extra steps to verify your identity before issuing credit.
- Freeze Your Credit: If you haven't already, 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 provide useful documentation for resolving issues with creditors.
- Notify Financial Institutions: Contact your bank and any other financial institutions where you have 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 security risks such as identity theft for employees and clients, unauthorized access to financial accounts, and potential data breaches. Since businesses often store sensitive employee and client information, an SSN leak can expose both individuals and the business to legal and financial risks, as well as reputational damage.
Ensuring your business has a robust cybersecurity plan, including data encryption, network security, and employee education, is the best way to protect sensitive information and prevent 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 (951) 742-8020 to schedule a FREE Discovery Call and safeguard your business from costly cyberthreats.
