**This may be a dry subject to some, but it's important!
As a twenty-year-old college student I’m honestly not really sure what social security is and what that unique ten digit number means to me. However, after reading MSNBC’s recent post on SSN’s and how vulnerable they are to fraud, I figured I had better learn.
For those of you who are a little weary on what social security is just as I am, I decided to look up some facts. First of all, social security was started in 1935 as part of the New Deal by President Franklin D. Roosevelt. The Social Security Act “created a system of Federal old-age benefits for workers and their families” because much of the nation was left in severe poverty after the Depression. Eventually in 1956 the law was modified to provide benefits to people with disabilities.
Basically the Social Security fund is like a huge bank account that all workers pay into. Every time a worker receives a paycheck, part of their check is poured into this fund.
Social security is very important to the soon-to-be retirees and the already retired; however it is causing much controversy among younger workers who are not so close to packing their bags and heading south. They fear that once they need the money from the fund, it may no longer be there for them to collect from.
So why is it so important to protect your social security number? MSNBC’s report on social security reported that 1 in 7 Americans have two OR more names attached to their social security number. That’s over 5 million SSN numbers. Don’t go screaming fraud or identity theft though. Such things happen easily in situations such as typos. Illegal immigrants may also play into the cause. Since they are required to give their employer a SSN, they may just randomly and unfortunately name yours off.
In the case that someone is using your number though, there are signs that point to the dirty deed of identity theft. For instance, when a fraud artist is trying to use your SSN for a credit card and they want to avoid any bad credit flaws, they might take your address and change it up a bit or even alter your name. If they are really tricky they might apply to ten different banks with ten different SSN’s that are one digit off from one other. It seems to me like someone has a little too much time on their hands.
The part I left out is the whole secret of this controversy. Many American’s are not notified when they are victims of identity theft. The government usually notices fraud when a SSN is connected to three people. The government then puts the imposter’s records into a sub-file once they recognize something is not right. That means once you receive your credit report you still may not know someone has your number.
There are preventative actions you can take into your own hands to ensure you aren’t baiting in imposters.
1. First of all ladies, keep track of that purse and how you’re flashing that plastic money! An imposter could potentially be standing behind you in line and take a shot of your credit card number. Know where your purse and wallet are at all times too.
2. Store your bank statements, credit card statements, mail and unused checks in a confidential place. Your account number is something that may lead an imposter to your SSN.
3. If you are typing in personal information on an unsecure website, you’re not making such a smart move. Make sure the site is secure and that you know 100% for sure who and what you are giving information to.
4. Make sure your email or even the people you are talking to on the phone aren’t posing as someone else like your employer. They may be trying to pry personal information from you. Probably better to leave personal information for face-to-face conversations.
Protection from fraud can be a haulted by smart actions. Keep your identity unique and the way it is supposed to be; YOURS!
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