February 2023
Fraud Alert

Protect Yourself from Social Security Scams

By: Corrina Olson

What is a Social Security-Related Scam?

They are when a scammer impersonates the Social Security Administration (SSA) or another government agency to obtain your personal information or money. Scammers might call, email, text, write, or message you on social media claiming to be from the SSA or the Office of the Inspector General.

Four Basic Signs of a Scam

  1. Scammers pretend to be from an agency or organization you know to gain your trust.

  2. Scammers say there is a problem or a prize.

  3. Scammers pressure you to act immediately.

  4. Scammers tell you to pay in a specific way.

Be Skeptical and Look for Red Flags

Social Security Administration will never:

  • Threaten you with arrest or legal action because you don’t agree to pay money immediately.

  • Suspend your Social Security number.

  • Claim to need personal information or payment to activate a cost-of-living adjustment (COLA) or other benefit increase.

  • Pressure you to take immediate action, including sharing personal information.

  • Ask you to pay with gift cards, prepaid debit cards, wire transfers, cryptocurrency, or by mailing cash.

  • Threaten to seize your bank account.

  • Offer to move your money to a “protected” bank account.

  • Demand secrecy.

Scammers have also been known to:

  • Use legitimate names of Office of Inspector General or Social Security Administration employees.

  • “Spoof” official government phone numbers, or even numbers for local police departments.

  • Send official-looking documents by U.S. mail or attachments through email, text, or social media message.

How to Avoid a Scam

Protect yourself, friends, and family — If you receive a suspicious call, text, email, social media message, or letter from someone claiming to be from Social Security:

  1. Remain calm. If you receive a communication that causes a strong emotional response, take a deep breath. Talk to someone you trust.

  2. Hang up or ignore the message. And make sure not to click on links or attachments.

  3. Protect your money. Scammers will ask you to pay with forms of payment that are hard to trace, like gift cards, prepaid debit card, cryptocurrency, wire transfer, money transfer, or by mailing cash.

  4. Protect your personal information. Be cautious of any contact claiming to be from a government agency or law enforcement telling you about a problem you don’t recognize. Don’t give out any personal information if you are unsure.

  5. Spread the word to protect your community from scammers if you do receive any suspicious calls or messages.

  6. Report the scam to the Office of the Inspector General at oig.ssa.gov/report.

 

Ask for Help

Remember, scammers can be very convincing, and they are good at what they do. If you aren’t sure if a call or a message is from a legitimate source, pause and do your due diligence to confirm the legitimacy. If you still aren’t sure, you can always reach out to your financial advisor. We are happy to help review any suspicious calls or messages!

If you have questions, please contact us.

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