Very few things in life can create a higher
degree of stress than having your Social Security Number (SSN) stolen. This is
because, unlike other forms of ID, your SSN is virtually permanent. While most
instances of SSN theft are outside your control, there are some things that you
can do to minimize the risk of this ever happening to you.
- Never
carry your card. Place your SSN card in a safe place. That
place is never your wallet or purse. Only take the card with you when you
need it.
- Know
who needs it. As identity theft continues to evolve,
there are fewer who really need to know your SSN. Here is that list:
- The
government. The federal and state governments use
this number to keep track of your earnings for retirement benefits and to
ensure you pay proper taxes.
- Your
employer. The SSN is used to keep track of your
wages and withholdings. It also is used to prove citizenship and to
contribute to your Social Security and Medicare accounts.
- Certain
financial institutions. Your SSN is used by
various financial institutions to prove citizenship, open bank accounts,
provide loans, establish other forms of credit, report your credit
history or confirm your identity. In no case should you be required to
confirm more than the last four digits of your number.
- Challenge
all other requests. Many other vendors may ask for your
SSN but having it may not be essential. The most common requests come from
health care providers and insurance companies, but requests can also come
from subscription services when setting up a new account. When asked on a
form for your number, leave it blank. If your supplier really needs it,
they will ask you for it. This allows you to challenge their request.
- Destroy
and distort documents. Shred any documents that have your
number listed. When providing copies of your tax return to anyone, distort
or cover your SSN. Remember, your number is printed on the top of each
page of Form 1040. If the government requests your SSN on a check payment,
consider placing only the last four digits on the check, and replace the
first five digits with Xs.
- Keep
your scammer alert on high. Never give out any part
of the number over the phone or via email. Do not even confirm your SSN to
someone who happens to read it back to you on the phone. If this happens
to you, file a police report and report the theft to the IRS and Federal
Trade Commission.
- Proactively
check for use. Periodically check your credit reports
for potential use of your SSN. If suspicious activity is found, have the
credit agencies place a fraud alert on your account. Remember, everyone is
entitled to a free credit report once a year. You can obtain yours on the Annual Credit Report website.
Replacing a stolen SSN is not only hard to do,
it can create many problems. Your best defense is to stop the theft before it
happens.
