By now, most people’s Social Insurance numbers (SINs) - one of the most critical pieces of personal data - have likely found their way onto the dark web. Due to breaches at major companies, government organizations, and health care providers, millions of SINs are circulating in cybercriminal circles. For businesses and individuals in Richmond, Surrey, Burnaby, Vancouver, and across the Lower Mainland, this is more than just a minor concern - it’s a major cybersecurity threat.
Here’s why a compromised SIN can wreak havoc on your life, how to check if yours has been leaked and what to do if it has.
Is A Leaked Social Insurance Number Really That Serious?
Your Social Insurance number is a key piece of your identity. With just your SIN, a hacker can unlock a world of financial and personal information, allowing them to impersonate you, take out loans and potentially access sensitive accounts. Even if you don’t see the immediate impact, criminals can hold on to SINs for years, waiting for the right moment to strike.
What Can Happen If Someone Has Your Social Insurance Number?
Having your SIN in the wrong hands can lead to:
- Identity Theft: Fraudsters can use your SIN to open credit accounts, take out loans or even file false tax returns in your name.
- Employment Fraud: Someone could use your SIN to obtain a job, which could leave you with unexpected tax issues.
- Medical Fraud: Some criminals use stolen SINs to receive health care under someone else’s name, leaving you with false medical records that can complicate future care.
Take the Equifax data breach back in 2017. This incident exposed the SINs and personal information of 147 million people. Many of these victims faced issues ranging from fraudulent credit card applications to false tax returns, with some people still dealing with the fallout today. The Equifax case is a perfect example of how serious SIN exposure can be and proof that it happens.
Signs Your Social Insurance Number Has Been Stolen
Worried your SIN might already be in use? Here are some red flags to watch for:
- Unexpected Mail: You receive credit card offers, debt collection notices or bills for accounts you didn’t open.
- Credit Report Surprises: Your credit report shows accounts you don’t recognize or inquiries from unfamiliar sources.
- Tax Return Issues: The CRA notifies you of multiple tax returns filed under your name, or you’re denied a refund you were expecting.
- Health Care Records: You notice unfamiliar medical bills or strange entries in your medical records.
How To Check If Your SIN Was Leaked – And What You Can Do To Protect It
Whether you’ve experienced some of these red flags or you just want to check, here are a few ways to do so and ways to protect yourself from becoming a victim:
- Monitor Your Credit Report
Start by checking your credit report for any unfamiliar accounts. You’re entitled to a free credit report annually. Make it a habit to review these reports for signs of unusual activity. - Freeze Your Credit
Freezing your credit is one of the most effective ways to prevent fraud. A freeze restricts access to your credit report, making it much harder for someone to open accounts in your name.
What To Do Immediately If Your SIN Is Leaked
If you confirm that your SIN is compromised, it’s important to take these actions right away:
- File A Report
File a police report , contact the CRA, and report the fraud to the Canadian Anti-Fraud Centre. This site will guide you through a recovery plan based on your situation. - Contact The Credit Bureaus
Notify the credit bureaus (Equifax and TransUnion) that your SIN has been compromised. Place a fraud alert on your credit report to make lenders take extra steps to verify your identity before issuing credit. - Freeze Your Credit
If you haven’t already, place a freeze on your credit report to prevent new accounts from being opened in your name. This is only available in Quebec as of today. - Notify Financial Institutions
Contact your bank and any other financial institutions you have accounts with to let them know your SIN has been compromised. They can place alerts on your accounts and monitor for suspicious activity.
Protecting Your Business: Why Cybersecurity Matters
For small and medium-sized businesses, protecting Social Insurance numbers and other personally identifiable information is essential to business security. A compromised SIN can lead to various security risks, including identity theft for employees and clients, unauthorized access to financial accounts and potential data breaches. Since businesses often store sensitive employee and client information, an SIN leak can expose not only individuals but also the business itself to legal and financial risks, as well as reputational damage.
Ensuring your business has a strong cybersecurity plan, including data encryption, network security and employee education, is the best way to protect sensitive information and prevent data leaks.
At Comwell Systems Group, we specialize in IT services and cybersecurity solutions for businesses across the Lower Mainland, including Richmond, Surrey, Burnaby, and Vancouver. If you need help securing your business against data breaches and identity theft, our cybersecurity team is here to support you. Click here to schedule a FREE Security Risk Assessment and safeguard your business from costly cyberthreats.
