Yes, someone can use your Social Security Number (SSN) with other personal details to open new bank accounts in your name, apply for loans, or even gain access to existing accounts, potentially draining funds, making it a critical piece of identity theft risk, notes IdentityTheft.gov, the California Attorney General, and Allstate. While an SSN alone might not unlock your current account instantly, it's the key to establishing new financial identities and accessing sensitive information, leading to severe financial damage and credit problems.
How identity theft happens
An identity thief who has your social security number and other personal information could do a number of things with it, including:
If you are currently receiving Social Security Income (SSI), the SSA actually can check your bank account, as they have the permission to do so. SSI is a needs-based program for those that don't qualify for full social security disability benefits due to lack of work history, age, or other factors.
An identity thief could try to use your Social Security number to do things like open accounts, take out a loan, file taxes, or get a job.
To stop someone from accessing your bank account, immediately change your password, enable multi-factor authentication (MFA), set up transaction alerts, and contact your bank's fraud department to freeze your card or account if you suspect unauthorized access, then report the fraud to the Federal Trade Commission (FTC) and consider placing credit freezes.
Clues That Someone Has Stolen Your Information
Merchants refuse your checks. Debt collectors call you about debts that aren't yours. You find unfamiliar accounts or charges on your credit report. Medical providers bill you for services you didn't use.
The U.S. Federal Trade Commission received 1.1 million claims of identity theft in 2024, though that is believed to be a severe undercount of the complete number of victims. Even children often have their Social Security number stolen, and credit monitoring services rarely help victims much.
Financial identity (ID) theft is the most common type of identity theft. However, ID theft can happen in many forms. Early detection is key to minimizing damage when your personal information is stolen. There are measures you can take to help better protect yourself and your personal information.
For example, if a customer offers a unique identifier such as a social security number and the SSN is already used by another customer, it is potentially a strong red flag or indication of possible identity theft or if a personal document looks fake, it also may represent a potential identity theft red flag.
If your identity was stolen:
An extended fraud alert can be placed if you are a victim of fraud or identity theft. It requires a copy of a valid police or law enforcement agency report, or a Federal Trade Commission Identity Theft Report, and lasts for 7 years.
To check if someone opened a bank account in your name, request free reports from checking account reporting companies. You should also monitor your credit reports monthly, as new bank accounts may appear there.
Lock Your Social Security Number
To block electronic access to your SSN, call the Social Security Administration at 800-772-1213. Once you've made your request, any automated telephone and electronic access to your Social Security file is blocked.
The code *894# is primarily used in Nigeria for First Bank of Nigeria's USSD banking service, allowing users to perform transactions like airtime top-ups, balance checks, transfers, and bill payments without needing internet or an app, while EDI 894 (a different context) refers to an Electronic Data Interchange transaction set for retailers and suppliers to manage deliveries, acting as advanced invoices or advance shipping notices.
Yes, HMRC can check your bank account without your permission. If HMRC has a good reason to investigate your finances, they can check your records directly with your bank.
To stop someone from accessing your bank account, immediately change your password, enable multi-factor authentication (MFA), set up transaction alerts, and contact your bank's fraud department to freeze your card or account if you suspect unauthorized access, then report the fraud to the Federal Trade Commission (FTC) and consider placing credit freezes.