Don‘t Let a Lost Social Security Card Turn into an Identity Theft Nightmare
As a cyber security expert with over a decade of experience investigating identity theft, I‘ve seen firsthand how a lost or stolen Social Security card can lead to a world of trouble. Your Social Security number (SSN) is a prime target for identity criminals – a single number that can give them the keys to your financial life. Armed with your SSN, a scammer has an easy route to creating a synthetic identity, opening new credit accounts, compromising your tax and medical records, and even committing crimes while masquerading as you.
Social Security Numbers: A Tempting Target for Identity Thieves
How serious is the threat of Social Security identity theft? The numbers tell a chilling story:
• A 2018 Javelin Research study found that 15 million Americans were victims of identity fraud, with losses of $16.8 billion
• Social Security numbers were the most compromised type of personal data, exposed in 35% of breaches (ITRC Data Breach Report 2021)
• The IRS identified over $2.3 billion in tax fraud related to identity theft in 2020
• Medical identity fraud costs the U.S. $41 billion per year, often facilitated by stolen SSNs (SHEA Journal of Law)
Why are Social Security numbers such a hot commodity for identity thieves? As a universal identifier tied to so many aspects of your identity, a Social Security number provides access to an array of sensitive information and accounts. With an SSN, a criminal can fraudulently obtain driver‘s licenses, passports, loans, tax refunds, government benefits and medical services, as well as open utility and phone accounts.
A stolen SSN also allows identity thieves to create synthetic identities – fictional identities that combine real and fake personal information. Synthetic identity fraud is one of the fastest-growing types of financial crime, costing banks an estimated $6 billion and victimizing children and seniors at high rates. Criminals often use synthetic identities to build credit profiles over time, maxing out credit lines before disappearing.
The Consequences of Social Security Number Identity Theft Can Be Devastating
Having your SSN fall into the wrong hands can send shockwaves through all areas of your life. Some of the hardships victims experience include:
• Credit score damage: Fraudulent accounts and unpaid debts on your credit reports can ravage your scores, making it difficult and expensive to secure loans and housing.
• Legal troubles: If your identity is used in connection with crimes or civil judgments, you could face false arrests, fines, and a lengthy battle to clear your name.
• Tax refund delays: Scammers filing fake returns with your SSN can hold up your legitimate refund or even reroute it into their own pockets.
• Government benefit issues: Identity thieves can create havoc with Social Security, Medicare and other government benefits, diverting payments or draining your accounts.
• Reputation harm: Negative and inaccurate data spread across your credit, employment and even medical records can damage your reputation, both personally and professionally.
The road to identity recovery after Social Security number theft can be long and costly. Victims spend an average of 100 to 200 hours and hundreds of dollars dealing with the fallout, which can drag on for months or even years.
Fast Action is Critical to Limiting the Damage of Social Security Card Loss or Theft
The more quickly you move to prevent and repair identity theft, the better your chances of minimizing the fallout. If your Social Security card goes missing or you suspect your number has been compromised, take these steps right away:
1. Place a credit freeze and fraud alert.
Contact each of the three major credit bureaus – Equifax, Experian and TransUnion – to place a freeze on your credit reports. This prevents anyone from accessing your credit files to open new accounts. Add a fraud alert to your reports as well to notify creditors they should take extra identity verification steps. Fraud alerts are free and last one year, while credit freezes are free to place and lift in most states.
2. Check your credit reports.
Visit AnnualCreditReport.com to get free copies of your credit reports from all three bureaus. Examine each report carefully for unfamiliar inquiries and accounts. Circle back and review your reports again in a few months.
3. Sign up for identity monitoring.
Identity theft protection services can help you keep tabs on your sensitive data across the Internet, dark web and public records. Major players like LifeLock, Identity Guard and Experian IdentityWorks offer SSN monitoring, credit lock features, and identity theft insurance to cover recovery expenses. Some employers and insurance companies also provide free or discounted identity protection coverage.
4. Report the loss and get a replacement card.
File a report with the Social Security Administration and your local police. You should also request a replacement Social Security card, which requires filling out an application and providing proof of identity. Requesting a new SSN is also possible if you have serious ongoing identity theft issues, but it‘s an arduous process and won‘t always fix problems related to the old number.
Adopt These Smart Habits to Prevent Social Security Number Identity Theft
Keeping your Social Security number out of the wrong hands is one of the smartest things you can do to avoid identity theft. Make these precautions part of your routine:
• Leave your card at home in a locked safe or file cabinet. Don‘t carry it in your wallet.
• Avoid sharing your SSN unless absolutely necessary, and never send it via unsecured email or text.
• Shred any documents containing your SSN before disposing of them.
• Be wary of unsolicited calls and emails requesting your SSN. Scammers often pose as government agencies or employers to trick you into revealing your number.
• Consider using an identity protection service to monitor your SSN and alert you to signs of misuse.
• Use strong, unique passwords on all your financial and sensitive accounts.
• Be cautious about sharing personal information on social media that could be used to guess your SSN, like your birth date and hometown.
Knowledge is Power in Preventing Social Security Number Abuse
The more you understand about how Social Security numbers can be abused and what to do if yours is compromised, the better prepared you‘ll be to prevent and resolve identity theft. Here are answers to some common questions about SSNs and identity protection:
Q: Can I change my Social Security number if it‘s been stolen?
A: In some cases, yes. The Social Security Administration may assign you a new number if you‘ve done all you can to fix problems related to identity theft and are still experiencing difficulties. However, they‘re reluctant to issue new numbers except in the most extreme cases. Even with a new number, you may still be held responsible for transactions made with the old one.
Q: Do I have to provide my Social Security number to my doctor, employer, or kids‘ school?
A: It depends. In a few cases, you‘re legally required to furnish your SSN, like when starting a new job or applying for certain government benefits. More often, a business or institution may request your SSN but it‘s voluntary (even if they don‘t phrase it that way). Don‘t be afraid to ask why they need it and how it will be protected. In many cases, you can provide an alternate identifier.
Q: How can I tell if someone is using my Social Security number?
A: Red flags that often signal SSN identity theft include:
• Credit report entries you don‘t recognize
• Unexpected bills or collection calls for accounts you didn‘t open
• Medical providers billing you for services you didn‘t receive
• IRS notices about suspicious tax returns in your name
• Sudden changes to your credit scores
• Being denied credit because your SSN is already associated with too many accounts
Q: What should I do if I lose my Social Security card while traveling overseas?
A: Contact the nearest U.S. embassy or consulate for assistance. You may be able to get a temporary card or letter affirming your SSN so you can continue to conduct business during your trip. When you return home, visit your local Social Security office to order a replacement card.
Take Social Security Number Security Seriously
In today‘s digital world, safeguarding your Social Security number is more important than ever. A Social Security card that falls into the wrong hands can open the door to long-term identity theft and credit fraud. If the worst happens, acting quickly to lock down your identity and prevent further damage is essential.
But as with most things in life, an ounce of prevention is worth a pound of cure when it comes to SSN security. Adopting smart habits to protect your Social Security card and number can save you from major headaches down the road. Stay vigilant, be proactive if you spot signs of trouble, and consider enlisting the help of identity theft protection experts to watch your back. Your Social Security number is a powerful asset – guard it carefully to keep your identity secure.
