Ten Staggering Facts About Social Security Fraud

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Large pile of money lost because of social security fraud. Our LA, California attorneys can help youWith so many recent breaches in security, there have been several discussions about whether or not to do away with the social security number altogether. The website, credit.com even stipulates that maybe the discussions should happen sooner than later.

Our Los Angeles identity theft attorneys at the Law Office of Howard D. Silver would like to share the following 10 baffling facts about social security fraud:

  1. In 2014, 80 million social security numbers were exposed in the Anthem breach
  2. In 2014, 11 million social security numbers were exposed in the Premera Blue Cross breach
  3. Between 2011 and 2014, the IRS halted up to 19 million tax returns that appeared suspicious
  4. Between 2011 and 2014, $63 billion was protected from fraudulent tax return claims
  5. $5.8 billion in fraudulent tax returns were paid out between 2011-2014
  6. The Treasury Inspector General for Tax Administration predicted that between 2012-2017, $26 billion would be netted by fraudulent persons
  7. 80% of the top 25 banks give access to a bank account if someone can provide a correct social security number
  8. 96% of the top credit card companies will give access to an account if the proper SSN can be produced
  9.  A 2009 study showed that a group of researchers at Carnegie Mellon could successfully predict 90% of the SSNs in Vermont
  10. In 2010, India got 1.2 billion of its citizens to switch to a biometric identifier over an identifying number to try to halt fraudulent activity

Overall, all of these statistics show that the social security number isn’t really near as secure as we’d like it to be. The social security number was designed as a way to access social security, but, in 1972, the policy was changed and they became the major identifier for Americans. This has obviously been proven problematic.

If you’ve been the victim of any type of identity or social security fraud, please allow our Los Angeles social security fraud attorneys at The Law Office of Howard D. Silver to help you. Call us today at (855) 341-2611.

Sources: credit.com, cnn.com, interview with Treasure Inspector General J. Russell George before the House Ways and Means Subcommittees on Oversight and Social Security, arstechnice.com 

Posted Date: 
Wednesday, April 22, 2015
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