Why Using a Verification Company That Stores Social Security Numbers Is Dangerous
Most verification companies require - and store - Social Security numbers to process employment and income verification requests, putting this confidential data at risk to hackers. (And putting your company at risk for a lawsuit.)
Yet, the need for employment and income verification still exists in companies of all sizes, from small businesses with only a handful of employees to large corporations with thousands of employees.
So what's an organization to do? Stop putting your company and employees in danger when there is a solution available that eliminates the need for Social Security numbers completely - VerificationManager.
VerificationManager is the only company that doesn't require the input of Social Security numbers to provide clients with verification of employment (VOE) and verification of income (VOI).
But Why Do Most Verification Companies Ask for Social Security Numbers Anyway?
Other companies require the use of Social Security numbers for two reasons:
- To identify that the employee who creates an account on their site is who they say they are. This ensures that when the employee goes to approve the release of requests, it's truly them who is approving it.
- To enable verifiers to search for someone's information. To do this, they typically enter the company name (or company code/company ID) and the Social Security number.
However, VerificationManager has a patent-pending process that eliminates the need for the input of Social Security numbers in both of the above instances - and is still able to provide the same reliable, thorough results - but without the risk.
Do I Really Need to Worry About a Breach of Social Security Numbers?
According to NPR, the threat of hackers stealing Social Security numbers is not only real, but incredibly high. NPR notes that, "Jay Jacobs, lead data scientist at Verizon for the breach report, is a foremost expert who has been slicing and dicing this data for years. He estimates 60-80% of social security numbers have been stolen by hackers."
Jacobs goes on to say that since companies are storing Social Security numbers online, hacking attempts are at an all-time high. He states, "Now that everything is digital, if hackers compromise a server or data warehouse, that theft scales into the millions, quickly. It's gotten somewhat easy for the attacker. I think we're underestimating just how [many] records are out there."
How to Keep Your Company and Employees Safe
Using VerificationManager for your VOI and VOE needs means you will not be putting your current and ex-employees in danger of having their confidential data breached and that your company will not be at risk for potential lawsuits that could arise from the hacking of this information.
In fact, VerificationManager uses a proprietary, patent-pending process to ensure your organization never has to supply Social Security numbers (and verifiers do not have to enter them), along with bank-grade data encryption and security.
In addition, VerificationManager uses Veratad, a world-class provider of online/real-time Identity Verification and Knowledge Based Authentication Solutions to verify the identity of ex-employees or active employees without a company email.
Here's how the process works:
- For ex-employees: The employee enters minimal information about themselves. (E.g. last name and birthdate.) After the info has been entered, Veratad searches public records and presents them with a series of questions they must answer correctly in order to create an account.
- For current employees: VerificationManager simply sends a confirmation email to their work email address.
VerificationManager Benefits
Eliminating the use of Social Security numbers provides organizations with the information they need without the sacrifice of security.
In addition to this, VerificationManager is a zero-cost solution for employers and can easily accept data from any HRIS or payroll system.
Don't burden your staff with these tasks any longer - let VerificationManager handle all calls, emails, and paper-based requests without requiring and storing confidential data like Social Security numbers.
Why put your company and employees at risk when VerificationManager is a Social-Security-free solution that is able to provide you with the same high-quality results at no cost to your company.
