Recently, it has been reported that criminals have allegedly stolen the Social Security numbers of most Americans, totaling around 2.9 billion records. Whether or not this claim is accurate, the potential impact is enormous, and both individuals and businesses must take immediate steps to protect themselves. Here’s a guide to help you navigate these uncertain times.

Actions for Individuals

1. Freeze Your Credit: One of the most effective steps you can take to protect your financial well-being is to freeze your credit. A credit freeze prevents new creditors from accessing your credit report, which can stop identity thieves from opening accounts in your name. To learn how to freeze your credit with the three major credit agencies, visit this guide by the US government.
2. Create an Account with the Social Security Administration: If you haven’t already, create an account with the Social Security Administration (SSA). Doing so ensures that you have control over your Social Security information and prevents others from fraudulently claiming benefits in your name.

Actions for Businesses

If you’re responsible for identity verification at your organization, especially in customer support interactions, it’s crucial to reevaluate your methods. Many businesses still rely on outdated methods like Knowledge-Based Authentication (KBA), which often involves using Social Security numbers (SSNs) to verify identity. In the wake of this massive data breach, it’s clear that relying on SSNs for identity verification is no longer secure.

• Transition from KBA to Multi-Factor Authentication (MFA): Moving away from SSNs and other KBA methods to Multi-Factor Authentication (MFA) is an essential step to strengthen security. MFA requires users to provide two or more verification factors, which significantly reduces the likelihood of unauthorized access.

Stay Vigilant

The claim that Social Security numbers of most Americans have been stolen is alarming, but taking proactive steps can help mitigate potential risks. Both individuals and businesses must adapt to these new challenges to safeguard their information and protect against identity theft. Stay informed, stay secure, and take action today.

Think Your Identity May Have Been Stolen?

If you suspect that your identity has been compromised or need personalized advice on how to protect yourself, don’t hesitate to schedule a call with one of our cyber experts. Schedule a call now.