Episode 272 - What To Do If Your Social Security Records Are Hacked

Wealth Academy Podcast - Wealth Is More Than Just Money

It is important to understand any time your data is compromised, the first thing to do is alert your financial services provider. Whether it’s for a credit card or a checking and savings account, you can freeze your accounts before any bad actors are able to access or drain them.

You should obtain a copy of your credit report from the three major credit bureaus (TransUnion, Equifax and Experian) to review for errors or possible fraudulent accounts and freeze your credit file.

You can also consider filing a police report so that you have the information on file if you should encounter problems in the future, it’s good to ask for a copy of that report as proof.

Informing the fraud unit at any one of the three consumer reporting companies also helps. The credit reporting company you call is required to contact the other two. Here are their phone numbers: Equifax: 1 [phone], Trans Union: 1 [phone], Experian: 1 [phone].

A credit freeze is more effective than a fraud alert when it comes to preventing criminals from opening new accounts with your information. Beware if you get a letter from the IRS inquiring about a suspicious tax return that you did not file. You can’t e-file your tax return because of a duplicate Social Security number. …

You get an IRS notice that an online account has been created in your name. If a person receives a suspicious call or email that state there is a problem with their Social Security number or account, they should hang up or not respond to the email. 

People should then go online to oig.ssa.gov to report the scam to Social Security. For more information, go to www.ssa.gov/fraud. Protecting your identity and financial assets should always be a proactive part of your routine, whether that means daily, weekly or monthly monitoring.

Be proactive: Back up important files. Educate children about safe practices online and encourage safe social media guidelines. In order to be financially wealthy, one must be financially healthy.

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