Could Social Security Numbers Soon Be Replaced?
There were 1.4 million reports of identity theft reported last year, costing fraud victims almost $56 billion. Many of these cases stem from widespread data breaches, which provide thieves access to individual’s personal information such as name, birthdate, and Social Security number. To help stave off identity theft, Scientific American reports there have been calls to replace Social Security numbers with another form of identification. From lengthy cryptograph keys to biometric information, they look into some of the interesting options being proposed to use for personal information purposes.
The Seniors Trust is committed to preserving Social Security through passage of the Social Security Expansion Act. This landmark piece of legislation will increase monthly benefit payments, establish a fairer cost-of-living adjustment, and shore up the long-term solvency of the Social Security program.