Social Security has been a vital support system for retirees in the United States for over 80 years, with more than 70 million Americans receiving some form of Social Security benefit. However, the increasing use of Social Security numbers for financial transactions has also made them a target for identity theft. If your Social Security number (SSN) is leaked or stolen, it’s crucial to take immediate action to protect yourself.
My Social Security Number Was Leaked! What Should I Do?
The first Social Security number was issued in 1936, long before the digital age. Today, SSNs are frequently used for financial transactions, making them a prime target for criminals. Illegally obtained SSNs can be sold on criminal marketplaces and used to access banking, investment, or other private data. Criminals may also use stolen SSNs to file for unemployment or access other government benefits. If you find yourself a victim of identity theft, here’s what you should do:
Steps to Take Immediately
File a Report with the Federal Trade Commission (FTC)
- Visit identitytheft.gov to file a report with the FTC. This is a crucial step in documenting the theft and creating a recovery plan.
- File a police report with your local law enforcement. Even if the police do not pursue the case, having this documentation can be helpful in resolving future issues related to the theft.
Request a Credit Freeze or Place a Fraud Alert
- Contact the three major credit bureaus—Equifax, Experian, and TransUnion—to request a credit freeze or place a fraud alert on your credit reports.
- A credit freeze restricts access to your credit report, making it harder for identity thieves to open new accounts in your name. It will not negatively impact your credit score.
- A fraud alert warns creditors to take extra steps to verify your identity before extending credit.
Preventive Measures
As the saying goes, an ounce of prevention is worth a pound of cure. To safeguard your Social Security number and other personal information, an individual should take the below precautions:
- Secure Your Social Security Card: Keep your Social Security card in a secure location. Do not carry it with you unless absolutely necessary.
- Verify Legitimacy Before Sharing: Only share your SSN with businesses and entities you have verified as legitimate. Avoid giving out your SSN over the phone or online unless you are certain of the recipient’s identity and intentions.
- Monitor Your Credit Report: Check your credit report often through impact-free credit checks and review the report for any suspicious or unauthorized activity.
- Shred Sensitive Documents: Shred or securely delete any documents containing your SSN once they are no longer needed.
Conclusion
Having your Social Security number leaked or stolen can be a frightening experience, but taking prompt and effective action can mitigate the damage. By filing the necessary reports, requesting a credit freeze or fraud alert, and practicing vigilant data stewardship, you can protect yourself against the long-term consequences of identity theft. For more detailed guidance and personalized advice, consider consulting with a financial advisor or identity theft protection service.
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