Why you should care
Scamming is a billion-dollar industry
The Federal Trade Commission reports that in 2023 alone, consumers lost over $10 billion to scams. Of that number, $617.9 million in losses relate to government imposter scams. Since then, these numbers have been rising. To create public awareness, Social Security Administration (SSA) and its Office of the Inspector General (OIG) are holding the 6th National Slam the Scam Day as an anti-scam campaign. Note that SSA is the top government agency targeted by scammers, so they maintain special interest in shutting down scammers for good!
Scamming is widespread – here are ways to spot Social Security Scams:
Recognizing these common signs of Social Security scams can protect you and others you care about!
- Random, unsolicited contact from someone claiming to be from the Social Security Administration (SSA).
- The development of a sudden and unexpected problem, the offer of a prize, or benefit increase with payment due.
- Requests or demands for personal information like your Social Security Number (SSN), bank account details, or credit card info.
- Pressure to act fast, with possible threats of arrest, legal action, or a suspension of Social Security benefits.
- Requests or demands for payments via gift cards, cryptocurrencies, gold bars, wire transfers, or cash.
- Emails, messages, or letters with spelling and grammar mistakes, unusual wording, or generic greetings such as dear taxpayer.
The above signs signal scams!
Be proactive in self-protection
- Report scams immediately. This is the main way to stop scammers! Report Social Security fraud online at oig.ssa.gov or call the fraud hotline at 1-800-269-0271.
- Being contacted out of the blue likely indicates a scam. Do not automatically trust the source. If you are uncertain, be cautious and take steps to independently verify legitimacy.
- Do not automatically trust caller ID as the number may be spoofed (illegally masked).
- If you have questions, contact the SSA using their official telephone number 1-800-772-1213 or ask your trusted CPA or financial advisor for advice.
- Guard your personal information. Never give out your SSN, bank account number or other personal information. Note that the SSA will never call you and ask you to divulge personal or sensitive information.
- In all situations, regularly monitor your bank accounts, credit reports, and Social Security statements for unusual activity. The primary purpose is to detect unauthorized transactions to mitigate damage.
Verify – don’t automatically trust the source
Social Security scams, as well as other deceptions, are serious crimes that rob people of funds, personal data, and a sense of security. Staying informed and vigilant in a world where crime is common, and reporting threats to the proper authorities as needed, can make all the difference.
Expert recommendations
Financial experts recommend that people:
- Be on the lookout for scams.
- Remain cautious with sharing personal information
- Independently verify sources to discover what’s legit.
Following gut feelings
Scammers try hard to fool potential victims. Should you sense something is wrong, or feel uncomfortable, do not proceed with communication as it’s likely a scam. Remember that SSA employees are professionals. They do not threaten, harass, or contact folks out of the blue to ask for sensitive information or payments. Should attempts like this occur, stop communications immediately and Slam the Scam!
Prioritizing your safety
Security and sense of peace are your top priorities. Take charge by staying informed and acting to Slam the Scam. Take care to monitor elders facing cognitive declines as they are often targets of scams.
For more information, visit https://www.ssa.gov/scam/resources.html.
Disclosure: This article is purely informational and is not intended as a substitute for professional advice.