4 Biggest Social Security Money Scams To Watch Out for in 2024
Social Security scams have been around almost as long as the program itself, but they have picked up steam in recent years due to the rise of artificial intelligence and other advanced technologies. As recently as 2022, Americans age 60 and older reported $3.1 billion in scam losses, according to FBI data. That represented an 84% gain from the previous year. The rate could increase in 2024 based on recent events.
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One of those events was a new scam originally reported by The Intercept and later followed up on by Newsweek. According to Newsweek, fraudsters allegedly infiltrated a Social Security office in New York and supplied flyers with false helpline information. When one of the targets called the number on the flyer, it turned out to be one digit off the real Social Security number for the Manhattan office.
This scam was especially worrying to Kathy Stokes, director of fraud prevention at the AARP’s Fraud Watch Network
“There are a ton of scams … pretending to be the [Social Security Administration] and saying there’s a problem with your number or that your card has been suspended. But nothing like this, ” Stokes told Newsweek. “I find that very concerning. I can’t imagine how that would happen other than that someone on the inside being involved in it.”
Social Security beneficiaries are especially inviting to scammers because they tend to be more trusting and less familiar with new technologies. Here are four of the biggest Social Security scams to watch out for in 2024.
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Impersonating Social Security Personnel
This is a common scam designed to obtain personal information or money. Fraudsters might contact victims through phone calls, emails, texts or social media messages and provide AI-generated photos of real SSA employees. The best course of action is to ignore all of these messages. If you suspect Social Security fraud, visit the SSA fraud prevention site, or call the fraud hotline at 800-269-0271.
Told You Owe Money That Is Due Immediately
In this scam, the fraudster tells you that you owe money for some sort of penalty or benefit overpayment correction. It’s usually followed by a threat to suspend your benefits or have you arrested if you don’t pay the amount in question immediately. Sometimes, unusual payment methods, such as wire transfers, gift cards, cryptocurrency, prepaid debit cards or cash, are requested.
Impersonating Law Enforcement
According to the SSA’s Office of the Inspector General, scammers have been reviving an old tactic to gain trust by emailing and texting pictures of real and doctored law enforcement credentials and badges to prove they are legitimate and scam people out of money.
Notifications That Your Social Security Number Is Suspended
This scam involves being notified that your Social Security number is now suspended and that your personal information is required to reactivate it. It’s important to note that the SSA never suspends people’s Social Security numbers. Scammers are only asking you for your information so they can steal your identity and benefits.
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This article originally appeared on GOBankingRates.com: 4 Biggest Social Security Money Scams To Watch Out for in 2024