Is Your Social Security Number Leaked? Here’s How To Find Out And What To Do Next

At this stage, the majority of people's Social Security numbers (SSNs), one of the most crucial pieces of personal data, have likely ended up on the dark web. Due to security breaches at major corporations, government websites, and healthcare providers, millions of SSNs are circulating among cybercriminals. This is concerning, but is it truly a significant issue?

The answer is a resounding yes. Here's why a compromised SSN can cause significant problems, how to determine 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 vital part of your identity. With access to your SSN, hackers can access a wealth of financial and personal information, enabling them to impersonate you, secure loans, and potentially access sensitive accounts. Even if you don't notice immediate effects, criminals can hold onto SSNs for years, waiting for the right opportunity to misuse them.

What Can Happen If Someone Has Your Social Security Number?

Possession of your SSN by the wrong individuals can result in:

• 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 obtain employment, potentially leading to unexpected tax complications for you.
• Medical Fraud: Some criminals use stolen SSNs to receive healthcare under another person's name, resulting in false medical records that could complicate your future care.

Consider the Equifax data breach in 2017, which exposed the SSNs and personal information of 147 million individuals. Many victims experienced issues such as fraudulent credit card applications and false tax returns, with some still dealing with the repercussions today. The Equifax breach underscores the seriousness of SSN exposure and demonstrates its occurrence.

Signs Your Social Security Number Has Been Stolen

Concerned that your SSN might 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 Anomalies: Discovering accounts you don't recognize or inquiries from unknown sources on your credit report.
• Tax Return Problems: Being notified by the IRS of multiple tax returns filed under your name or being denied an expected refund.
• Healthcare Record Irregularities: Spotting 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: Begin by reviewing your credit report for unfamiliar accounts. You're entitled to a free credit report annually from each of the major credit bureaus (Experian, TransUnion, and Equifax). Regularly review these reports for 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 respond to issues more quickly.
• Freeze Your Credit: Freezing your credit is a highly effective way 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, such as changes to your Social Security account. While not comprehensive, it's an additional layer of awareness that can help you detect fraud early.

What to Do Immediately If Your SSN Is Leaked

If you discover your SSN has been compromised, take these immediate steps:

• File a Report with the FTC: Visit IdentityTheft.gov to file a report with the Federal Trade Commission. The 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 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 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 other financial institutions where you hold accounts to inform them of your compromised SSN. 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 employee and client identity theft, unauthorized access to financial accounts, and potential data breaches. Since 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 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 281-402-2620 to schedule a FREE Discovery Call and safeguard your business from costly cyberthreats.