Learn how hackers can use your personal information and how to protect your identity if your Social Security number is stolen.
What you will discover:
How Criminals Use Stolen Social Security Numbers Safeguarding Your Identity
Can I change my Social Security number?
The Equifax data breach last year exposed the personal information (including SSNs) of 140 million Americans to fraudsters and cyber thieves. Each incident was an instance of “identity theft,” which occurs when someone uses another person’s personally identifying information without their permission and for personal gain. Most Americans have no idea how hackers utilize their personal information, but they are shocked when they become victims of the illicit conduct. Knowing what to do if your SSN is taken helps alleviate both the mental and financial toll of being a victim of an identity thief.
Table of Contents
How Criminals Make Use of Stolen Social Security Numbers
Thieves use your financial tools in the same way you do with the right related information:
Withdraw funds from your bank accounts — Your SSN is often used to “verify” that you are the one using your account. Some criminals would drain little amounts of cash at a time so that you do not notice. Others will completely empty the account, leaving their victim with an empty account as well as unpaid bills or bounced checks.
Take out credit cards and loans – When criminals obtain the victim’s identity and address, they usually create bank accounts and new credit card or loan accounts, then continue to buy products for their own use. If you suspect that someone is creating lines of credit and taking out loans in your name, you should contact the three major credit bureaus as quickly as possible to resolve the situation.
Claim a tax refund — Scammers will sometimes file a tax return using stolen identity; unless you report it, the IRS will send your tax refund to that false filer. In 2017, the average tax refund was $2,769.00, and victims of identity theft were taken aback when they discovered that another individual had already claimed their return.
Obtain a driver’s license — In most states, a Social Security number is required in order to obtain a valid driver’s license. When criminals utilize a stolen SSN in combination with a fictitious name and address, the resultant license is issued in your name with their photo, and they may use it to give “proof” of their “identity,” just as you can with your license.
Receive healthcare benefits — Some criminals will use their stolen SSN to seek medical attention from one or more healthcare professionals. They are not concerned about paying the co-payment, and the victim’s insurance company often refuses to cover the treatments they want. When such invoices go unpaid, it is you who receives calls from collection agencies.
Keeping Your Identity Safe
If you have been the victim of identity theft, you may take actions to mitigate your damages and regain your privacy.
Report it. The Federal Trade Commission (FTC) maintains IdentityTheft.gov, a website dedicated to reporting identity theft, so file your claim as soon as possible. It is also highly urged that you report the theft to your local police.
You should place a fraud warning on your credit reports. For 90 days, the “Big Three” credit reporting agencies (Equifax, TransUnion, and Experian) will flag any further use of your SSN. By submitting an Identity Theft Affidavit, you may extend the time to seven years.
Put a credit freeze on your accounts. If you are not in the market for loans or credit, using your legal right to a credit freeze is the best approach to protect yourself. Rocket Lawyer allows you to submit a Credit Freeze Request. Simply answer a few questions to generate a customized set of letters that you can easily download, print, and mail to all three credit bureaus.
Contact the businesses where the scam happened. Those businesses do not want to further victimize you, and they need to know that they, too, have been duped. Larger corporations often have specific fraud departments to aid victims in these situations.
Can I change my Social Security number?
It is not an easy fix, but it is possible. To change your Social Security number, you must demonstrate that you are having multiple, ongoing issues with someone using your number. You will need to provide documentation of your identity, age, citizenship, or immigration status if you want to apply. Getting a new number means starting over, so credit will have to be rebuilt. The old number will still be valid, but it will no longer be linked to your new credit report. However, you must continue to monitor it for future incidents.
*In most cases, applying to change your SSN is not recommended, and many applicants are denied.
