The company found that buyers are currently willing to pay just $1 for a Social Security number, which is the same amount they'll pay for user and password information to Brazzers, a pornographic website.
The claim that numbers on a Social Security card can be used as a routing and account number to make purchases is FALSE, based on our research. The Fed has debunked the claim on numerous occasions.
If you change your mind about starting your benefits, you can cancel your application for up to 12 months after you became entitled to retirement benefits. This process is called a withdrawal. You can reapply later. You are limited to one withdrawal per lifetime.
A recent hoax circulating on the internet asserts that the Federal Reserve maintains accounts for individuals that are tied to the individual's Social Security number, and that individuals can access these accounts to pay bills and obtain money. These claims are false.
So, if you have a part-time job that pays $25,000 a year — $5,440 over the limit — Social Security will deduct $2,720 in benefits. Suppose you will reach full retirement age in 2022.
Passport information sells for $62.61 on the dark web according to the Dark Web Index, while other proof-of-identity documents are running just under $30. A separate Experian estimate from 2017 has driver's licenses selling for $20 while, surprisingly, Social Security numbers can sell for as little as $1.
In addition to Social Security, the SSN is now also used for a wide range of purposes. These include obtaining credit, opening a bank account, obtaining government benefits or private insurance, and buying a home or a car, among many other pursuits.
Basic stolen identity information on a US citizen, which only includes the Social Security number, full name and birth date, can range from $1 to $8 per person. But in some cases, hackers will package the offering with the victim's stolen credit card information, and charge from $20 to $75.
The number is issued to an individual by the Social Security Administration, an independent agency of the United States government.
Stolen identities are also a long-term investment for a criminal. An identity can be sold multiple times, and a buyer can use the stolen information to commit multiple kinds of fraud over a number of years.
Once someone has your Social Security number, they can essentially become you. They may be able to collect tax refunds, collect benefits and income, commit crimes, make purchases, set up phone numbers and websites, establish residences, and use health insurance—all in your name.
Once hackers or thieves have your SSN, they can make false statements on claims, file claims under your SSN, file fraudulent tax returns for refunds, open bank accounts and credit cards and more. A SSN, especially one with a good credit score attached, can be used to extract serious money quickly via these scams.
As long as a hacker or scammer has access to other personal information such as your name and address, they can use the last four digits of your SSN (in most cases) to open accounts in your name, steal your money and government benefits, or even get healthcare and tax refunds in your name.
The first set of three digits is called the Area Number. The second set of two digits is called the Group Number. The final set of four digits is the Serial Number.
Generally, only noncitizens authorized to work in the United States by the Department of Homeland Security (DHS) can get an SSN. SSNs are used to report a person's wages to the government and to determine a person's eligibility for Social Security benefits.
Personal information from US citizens found on the Dark Web—ranging from Social Security numbers, stolen credit card numbers, hacked PayPal accounts, and more—is worth just $8 on average, according to a new report from tech research firm Comparitech.
"Social Security numbers can be associated with multiple individuals, and that individuals can have multiple SSNs associated with them.
With a person's name, social security number and date of birth, someone can get loans, access the person's existing bank accounts, open new bank accounts, lease or buy cars, get insurance, you name it.
The Serial Number, itself, doesn't say anything about your location or age that the Group Number and Area Number don't already say, although since they are assigned consecutively, they could potentially reveal your relative age within a Group and an Area.
A dishonest person who has your Social Security number can use it to get other personal information about you. Identity thieves can use your number and your good credit to apply for more credit in your name. Then, when they use the credit cards and don't pay the bills, it damages your credit.
It's surprisingly easy for hackers and criminals to get your Social Security number. This usually happens either by physically getting the information or through a security breach of some kind online.
If you suspect your information has been compromised, placing a fraud alert on your credit report can make it harder for criminals to open new lines of credit in your name, including credit cards, personal loans, or student loans.
Thieves can then sell your identity or pretend to be you to open various accounts in your name, access medical care, file fraudulent tax returns or, at worst, commit crimes.
If someone does manage to steal your identity they could open bank accounts, obtain credit cards or loans, take out mobile phone contracts or buy things in your name. They could even apply for passports or driving licences, potentially doing even more damage to your finances and your credit rating.