How Can I Track My Social Security Number

Two years after making free credit monitoring available to the masses, CreditWise® from Capital One® has released three new tools to help consumers keep better tabs on their Social Security number.

CreditWise is the first app that sends users credit alerts from Experian® and TransUnion®, tracks a user's Social Security number, and scans the dark web all in one place, for free – whether they are a Capital One customer or not. These alerts can be sent via email or directly to one's mobile phone.

Why you need to track your Social Security number

Introduced as part of the Social Security Act by President Roosevelt in 1935, this nine-digit number was originally designed to track a citizen's work history and salary to determine their Social Security benefits. However, over the ensuing decades, the use of Social Security numbers has expanded significantly.

"Essentially, the Social Security number has become the de facto identifier for a whole host of activities, including how you make transactions online," said Joe Whitchurch, Head of CreditWise. "Once a fraudster gets a hold of someone's social in combination with other identifying information, fraudsters can apply for credit in their name and use that credit to make purchases and then not pay the bills, which can seriously damage a person's credit."

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Social Security number fraud has become all too common. Last year, and for the first time ever, hackers scored more SSNs (35 percent) than credit card numbers (30 percent), according to a 2018 study by Javelin Strategy & Research. Armed with someone's Social Security number and other identifying information, fraudsters can apply for loans, file fraudulent tax returns and receive medical care all in the name of an unsuspecting victim. "Imagine someone taking your car, going for a joy ride and all the damage they cause is attributed to you," Whitchurch said.

Consumer need for fraud detection tools

Despite the prevalence of Social Security number fraud, only 14.5 percent of respondents in a recent survey currently use a service to monitor their Social Security number, according to Capital One's 2018 Credit Protection & Security Survey (sample: 1,000 respondents). Interestingly, of the respondents who did not use a service to monitor their Social Security number, 50.9 percent think that they need/should have a service to monitor that all-important identifier.

Beyond Social Security number fraud, the percentage of respondents who have experienced some form of financial theft or fraud is staggering: 55 percent according to the Capital One survey. This fraud has not been without consequences: of those people who had experienced fraud, 37 percent suffered a loss of money, and 26 percent reported a negative financial impact.

CreditWise expands its feature set

In response to the consumer need for fraud monitoring tools, as revealed by Capital One's 2018 Credit Protection & Security Survey, CreditWise has expanded its feature set to include three new tools to help users keep tabs on their Social Security number. The new features include:

Social Security Number (SSN) Tracker : CreditWise now tracks the names and addresses associated with credit applications linked to a users' social security number, as reported by Experian, and alerts users when their SSN is used to apply for credit.

Dual Bureau Credit Alerts : Fraudsters can use a stolen Social Security number and other identifying information to apply for a line of credit in another person's name. CreditWise sends users alerts when meaningful changes, like inquiries, occur on their Experian and TransUnion credit reports.

Dark Web Surveillance : The dark web is a private corner of the Internet available only through specialized encrypted software. On the dark web, individuals can remain anonymous, which has made it a breeding ground for illegal activity. CreditWise now scans the dark web, including thousands of unsafe sites, hacking forums and illegal digital marketplaces, and alerts users if it finds their Social Security number or email address so they can take action.

A critical tool for a wireless world

Oftentimes the technologies and systems that make life more convenient can also make it less secure. Whether that's always-on connectivity or the use of a single de-facto identifier like a Social Security number, finding a balance between convenience and security is a sliding scale.

Luckily there are a number of actions that consumers can take to help protect their credit and keep tabs on their Social Security number, like downloading CreditWise. According to Andrew Nash, Capital One's Managing Vice President of Identity Services, the first step in protecting one's Social Security Number and other information "is simply having the tools to understand how and where your identifying information is being used or misused." With a tool like CreditWise, consumers now have more information at their fingertips, which according to Nash, "is one of the most critical steps to safeguarding your personal information on the web."

To learn more about CreditWise: visit creditwise.capitalone.com or download in the App Store or Google Play Store.

This story was produced by WIRED Brand Lab for Capital One.

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How Can I Track My Social Security Number

Source: https://www.wired.com/brandlab/2018/07/want-know-social-security-number-risk-theres-app/

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