By Brette Sember
Think about how often you’re asked to provide your Social Security number.
Healthcare providers, potential employers, creditors, banks, insurance
companies, and, of course, the IRS –businesses and agencies from all over
routinely want this information. They do so because those nine digits are yours
alone and thus provide a powerful form of identification.
With so many requests, it’s no wonder that most Americans know their Social
Security number by heart. But giving it out to so many people with such
frequency puts you at risk of joining the more than 17 million Americans who were
victims of identity theft in 2014 alone. How do you protect yourself?
Be smart
Treat your Social Security number as what it is: precious information.
Think of yourself as a spy agency, and your Social as a valuable piece of
intel. If a scam artist gets ahold of your number, they are well on their way
to stealing your identity.
There are lots of phishing scams in which you receive a very
official-looking email supposedly from your bank. That bogus mail will ask you
to enter your SS number in order to access your bank account. Some identity
thieves will even ask you to provide the number over the phone. Don’t fall
for it.
Never give your Social Security number to anyone unless you are certain of
who they are, and that they have a legitimate need for your number. And even
then, don’t give it out unless you can enter it into a form yourself.
Additionally, shred any documents you discard that list your number. Do not
carry your Social Security card or number with you.
Use a strong password on all of your accounts and devices, so that your
Social Security number and other personally identifiable information (PII)
cannot be easily hacked. Two-step verification, which requires the entry of
your password followed by a one-time code sent to your mobile phone, offers
even more protection.
Who can require your number?
Some entities really do need access to your Social Security
number. Banks, for instance, need it to open an account. You must provide it to
your state’s department of revenue and the IRS when filing tax documents or
payments. Employers need it to make sure that your tax withholdings get
credited to the correct account, while government agencies require it to
provide benefits, including unemployment, Medicaid, Medicare, and, of course,
Social Security. And thanks to the USA PATRIOT Act, your state’s department of
motor vehicles also has a legitimate need to know your number.
Beyond those entities discussed above – which can legally require your
Social Security number – there are a host of other people, businesses, and
agencies who regularly ask for it. For example, schools, insurers, and utility
companies frequently request your number. Potential employers and landlords may
ask for it so that they can perform background checks; similarly, creditors
want it so they can check your credit rating.
The thing to remember is that anyone can ask you for your Social Security
number, but it is up to you to choose to give it. If you refuse, you may be
denied something you are seeking, such as a job or an apartment, but you can’t
be forced to divulge your number. Healthcare providers routinely ask for it,
but you are not required by law to provide it to them.
How to avoid giving your number out
Being knowledgeable about when you can be required to provide your Social
Security number is important. If someone asks for it but has no legal right to it, you can point out
that they can’t require it. If you are considering complying, ask why the number is being
requested. You can point out that it is possible to perform a background check
without the number. Find out about what requestor’s privacy policy, asking how
your number will be used and with whom it will be shared. Also ask how it will
be stored and protected from hackers. When filling out forms, the easiest way
to deal with a non-mandatory request for your Social Security number is to
leave that part of the document blank. The absence of the number generally will
go unchallenged.
Stay informed
Even if you’re diligent about safeguarding your Social Security number, you
should check your financial accounts regularly and sign up
for alerts that inform you of changes or withdrawals. You should also check
your credit report at least once a year, verifying that all the accounts it
lists are ones you opened. Use AnnualCreditReport.com, which is authorized by the
federal government to provide you with a free annual credit report from each of
the three major credit reporting agencies; by requesting a report from just one
agency at time, you can check your credit report at no cost three times a year.
In addition, you should consider setting up a security freeze on your credit report.
The freeze will prevent new accounts from being opened in your name unless your
identity is proven.
Pay for protection
If you’re still worried that your Social Security number might be stolen,
you can sign up for a monitoring program, which will alert you
immediately if any suspicious activity is detected on your credit report. A
number of companies offer such services and the prices vary considerably, so do
your homework.
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