My institution has recently experienced an uptick in deposit and loan applicants, both indirect and otherwise, that provide social security numbers beginning with the number 8.
I know that historically this number wasn't used, and there's not any information we could find online to prove that Social Security has begun issuing them, however we were able to confirm via phone that they truly have. The only problem is... they haven't informed the credit bureaus. When any sort of report is pulled on these social security numbers, it comes back as "not issued".
Has anyone else experienced this recently or otherwise? Social Security did mention to us that they conveniently have a product we can purchase that will allow us to enter the name and SSN and it will be able to verify if the information is correct and issued, however we were looking for other alternatives before spending the money, as any thrifty banker would! Are there any other tactics used to verify these individuals? From a CIP/EDD standpoint, we're thinking we truly should purchase the program, however if at all possible we're looking to avoid that!
Thanks in advance!
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