In today’s digital world, your Social Security number (SSN) is one of the most valuable pieces of personal information. Unfortunately, due to data breaches at major corporations, government websites, and healthcare providers, many SSNs have ended up in the hands of cybercriminals. The scary truth is, your SSN could be floating around the dark web without you even knowing it. But how serious is this threat? Spoiler: it’s very serious. Here’s why a compromised SSN can have long-term effects, how to find out if yours has been exposed, and what steps you need to take if it has.
Why Is a Leaked SSN Such a Big Deal?
Your SSN is tied to nearly every aspect of your life. With just this number, criminals can gain access to your financial and personal details, open credit accounts in your name, and even impersonate you. The fallout from SSN theft can last years, and hackers can wait to strike when you least expect it.
What Can Happen if Someone Has Your SSN?
If your SSN is in the wrong hands, you’re at risk of:
- Identity Theft: Fraudsters can use your SSN to open new credit lines, file false tax returns, or even take out loans.
- Employment Fraud: A criminal could use your SSN to get a job, leaving you with tax issues and even unpaid taxes from their employment.
- Medical Fraud: Stolen SSNs are sometimes used for healthcare fraud, where criminals receive medical treatment in your name, resulting in false medical records.
Take the 2017 Equifax breach, for example. That breach exposed the SSNs of 147 million people, many of whom are still dealing with fraudulent credit and tax issues today.
How to Tell if Your SSN Has Been Stolen
If your SSN is compromised, you might notice some signs:
- Unexpected Mail: Unsolicited credit card offers, bills for unfamiliar accounts, or collection notices for debts you don’t recognize.
- Credit Report Issues: Unfamiliar accounts or inquiries you didn’t authorize.
- Tax Problems: Notifications from the IRS about multiple tax returns filed under your name or being denied a refund.
- Medical Record Discrepancies: Incorrect medical bills or unfamiliar information in your health records.
How to Check if Your SSN Was Leaked and What to Do
If you suspect your SSN is compromised or want to proactively monitor it, here are some steps to take:
1. Monitor Your Credit Report
You’re entitled to one free credit report per year from each of the three major bureaus—Equifax, TransUnion, and Experian. Regularly review these reports for unfamiliar accounts or suspicious activity.
2. Use Identity Theft Protection Services
Services like LifeLock or Experian IdentityWorks can help monitor your SSN and alert you to any suspicious activity. These services won’t stop fraud, but they can catch it early, allowing you to respond quickly.
3. Freeze Your Credit
Freezing your credit prevents criminals from opening accounts in your name. You can freeze and unfreeze your credit for free at all three major credit bureaus.
4. Set Up SSN Alerts
The Social Security Administration offers alerts for changes to your SSN, such as if someone applies for a new job using your number. While it’s not foolproof, it’s an additional layer of protection.
What to Do if Your SSN Is Leaked
If you find out that your SSN has been compromised, take immediate action:
1. File a Report with the FTC
Go to IdentityTheft.gov and file a report. The site provides a recovery plan tailored to your specific situation.
2. Notify the Credit Bureaus
Contact Experian, Equifax, and TransUnion to alert them about the compromise. Ask them to place a fraud alert on your file, which will require businesses to verify your identity before issuing credit.
3. Freeze Your Credit
If you haven’t done so already, place a freeze on your credit with each of the major credit bureaus to stop fraudsters from opening accounts in your name.
4. File a Police Report
If the theft has resulted in significant financial loss or criminal activity, file a police report. This document may help resolve disputes with creditors and financial institutions.
5. Notify Your Financial Institutions
Contact your bank, credit card companies, and other financial institutions to alert them of the SSN leak. They can place alerts on your accounts and monitor for unusual activity.
Protecting Your Business: Why Cybersecurity Matters
For businesses, protecting sensitive information like SSNs is essential. A leaked SSN can lead to identity theft for employees or clients, unauthorized access to financial accounts, and even potential data breaches. In addition to the personal impact, businesses can face legal, financial, and reputational damage.
Make sure your business is secure by implementing robust cybersecurity practices, including encryption, strong network security, and regular employee training. Proactive measures help ensure your business, employees, and clients are protected from data leaks and cyberthreats.
If you need help securing your business and protecting sensitive information, our cybersecurity experts are here to assist. Click here to schedule a FREE Security Risk Assessment and safeguard your business from cyberthreats.
