Freezing your SSN can save you from serious financial harm.
Your Social Security number is the key to many aspects of your financial life, from opening a new bank account to applying for a job to renting an apartment. If thieves get their hands on your SSN, they can cause significant damage to your finances by taking on debt in your name or stealing your tax refund.
Locking, or freezing, your SSN makes it much more difficult for cybercriminals to access and exploit your personal information. By combining a lock on your SSN with a credit freeze, you're implementing a robust strategy to shield yourself from malicious activities.
Prohibiting electronic access to your SSN may seem like an extreme measure; however, if you've faced identity theft or your personal identifiable information was compromised in a recent data breach—like the hacks of Change Healthcare, Hertz, or National Public Data—then locking your SSN can safeguard you from future harm.
How to Lock Your Social Security Number
There are two main methods to effectively lock access to your Social Security number
1. Call the Social Security Administration: You can reach the SSA at 1-800-772-1213 between 8 a.m. and 7 p.m. local time, Monday through Friday. Wait times tend to be shorter in the mornings or later in the week. After confirming your identity, the SSA will lock electronic access to your SSN.
2. Create an E-Verify Account: Setting up a MyE-Verify online account allows you to conveniently lock your SSN and utilize the service's self-lock feature. This lock lasts one year, but you’ll be notified 30 days before it expires, giving you the option to extend the lock if needed. This feature is particularly useful since many employers utilize E-Verify, a service managed by the SSA and the US Citizenship and Immigration Services, for verifying employment eligibility.
Locking your Social Security number effectively prevents companies looking to verify your SSN from accessing your information. This immobilizes criminals who may attempt to commit fraud using your details. It’s also advantageous for those who prefer not to constantly call the SSA to unlock their SSN.
The Downsides of Locking Your SSN
A drawback to locking your SSN, similar to having a credit freeze, is that it limits your own access to it. You’ll need to unlock it whenever you need an employer to confirm your eligibility to work in the US or when receiving government benefits. This repeated hassle can be disheartening, especially for individuals who have previously experienced employment identity theft or tax fraud. For enhanced protection against tax-related identity theft, consider creating an identity protection PIN with the IRS, which prevents others from filing tax returns using your SSN or taxpayer identification number.
Locking Your SSN vs. Credit Freezes
A credit freeze is distinct from a Social Security number lock, although both measures are free. Locking an SSN restricts online access to your Social Security records, while a credit freeze blocks access to your credit reports. To initiate a credit freeze, contact all three major credit bureaus (Experian, Equifax, and TransUnion) to stop anyone from opening new credit accounts in your name.
Will Locking My SSN Protect Me from Identity Theft?
The answer is not entirely reassuring: it might help. Locking your Social Security number can prevent employment identity theft or stop criminals from collecting government benefits using your information. However, it won’t prevent all forms of identity theft.
Sharing your Social Security number should be done only when absolutely necessary, and avoid providing it during unsolicited calls or text messages. Regularly monitoring your financial accounts and credit reports for any strange activity is a good practice. If you prefer external help, enrolling in a credit monitoring service or ID theft protection service can be beneficial. These services often include credit monitoring as well as dark web monitoring and alerts if your details are compromised in a data breach. When your identity is at risk, identity theft protection can assist with recovery through comprehensive restoration services.
For added security, consider freezing your credit with Experian, TransUnion, and Equifax to obstruct identity thieves from opening new credit accounts, such as loans or credit cards, in your name. Many users find that this process is surprisingly straightforward and effective.
Taking proactive steps to lock your Social Security number while leveraging credit monitoring and ID theft protection services will help you maintain more secure footing in our increasingly digital world. The dual action of locking your social information combined with a credit freeze forms a protective barrier against the increasingly sophisticated tactics of identity thieves.