We need our infrastructure to stop treating bank account numbers and social security numbers as secrets. At least in the US, bank account numbers appear on physical checks and are required to be shared in order to do an ACH transfer, and a social security number is not supposed to be used as an identifier (unless to the Social Security Administration itself) or as a secret password.
Ideally, nothing nefarious should happen if both of them were listed and queryable publicly.
If someone has your bank account and bank’s routing number (which is also not secret), they can make fraudulent ACH transfers and payments from your account. Of course it will most likely be caught as fraud some time after the fact, but just those two bits of not-secret info are enough to grief someone.
Yes and no. Yes, theoretically you can initiate ACH transfer with just the account number. But practically, you will need to have a bank that would allow you to do that and agree to be on the hook if the transfer is going to be reversed. Which means if you are a criminal who wants to do it systematically at scale, you have to be big enough to have your own licensed pocket bank. Which is not a service available to a random criminal. Of course, a random criminal could forge a check with your numbers and cash it, but the account owner would rarely be on the hook for the funds, it's whoever agreed to cash the check. It can cause significant annoyance and inconvenience to the real owner of the account (including having to change account number and all accompanied legwork) but rarely results in funds actually being removed from the rightful owner. The banks prefer this system to the alternatives even with the risk of fraud.
Your SSN had been already stolen in the Equifax breach - unless you're so young or recently arrived that you haven't had SSN by then, in which case it had been stolen in one of a dozens of the breaches since then. And if somehow you avoided all that, it will be stolen in the inevitable next breach, which would happen regardless of what you do.
Doesn't at all. You can take cash, keep cash and spend cash without any bank being involved. Cash is more anonymous than crypto and (if it's USD) accepted just about everywhere.
Banks give you an advantage with transaction security and deposit insurance, but that's dealing with money and not cash.
