By this point, most people's Social Security numbers (SSNs), a.k.a. one of the most important pieces of data assigned to you, have found their way onto the dark web. Thanks to breaches at major companies, government sites and even health care providers, millions of SSNs are floating around in cybercriminal circles. It’s alarming, but is it really that big of a deal?
Spoiler alert: yes, it is. Here’s why a compromised SSN can wreak havoc on your life, how to check if yours has been leaked and what to do if it has.
Your Social Security number is a key piece of your identity, especially in the US. With just your SSN, a hacker can unlock a world of financial and personal information, allowing them to impersonate you, take out loans and potentially access sensitive accounts. Even if you don’t see the immediate impact, criminals can hold on to SSNs for years, waiting for the right moment to strike.
Having your SSN in he wrong hands can lead to:
● Identity Theft: Fraudsters can use your SSN to open credit accounts, take out loans or even file false tax returns in your name.
● Employment Fraud: Someone could use your SSN to obtain a job, which could leave you with unexpected tax issues.
● Medical Fraud: Some criminals use stolen SSNs to receive health care under someone else’s name, leaving you with false medical records that can complicate future care.
Take the Equifax data breach back in 2017. This incident exposed the SSNs and personal information of147 million people. Many of these victims faced issues ranging from fraudulent credit card applications to false tax returns, with some people still dealing with the fallout today. The Equifax case is a perfect example of how serious SSN exposure can be and proof that it happens.
Worried your SSNmight already be in use? Here are some red flags to watch for:
● Unexpected Mail: You receive 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 a refund you were expecting.
● Health Care Records: You notice unfamiliar medical bills or strange entries in your medical records.
Whether you’ve experienced some of these red flags or you just want to check, here are a few ways to do so and ways to protect yourself from becoming a victim:
If you confirm that your SSN is compromised, it’s important to take these actions right away:
For small and medium-sized businesses, protecting Social Security numbers and other personally identifiable information is essential to business security. 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. Since businesses often store sensitive employee and client information, an SSN leak can expose not only individuals but also the business itself to legal and financial risks, as well as reputational damage.
Ensuring your business has a strong 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. ClickHere to schedule a FREE Cybersecurity Posture Assessment and safeguard your business from costly cyberthreats.