Debunking the Latest Social Security Internet Hoax

Photo by Anna Shvets from Pexels

Don’t believe everything you read online! That’s the message the Federal Reserve is sharing after an old hoax about Social Security cards containing account and routing numbers recently resurfaced on social media.

USA Today looked into this and confirmed that your Social Security number is not linked to a bank account with the Federal Reserve. At issue was an Instagram post that said your Social Security card is really a credit card linked to your Treasury account, which “permits you a Federal ‘Exemption’ to discharge bills through credits issued on behalf of the government”. That is simply not true! The Federal Reserve System says not only is it impossible to use a Social Security number to pay off any debt or bills, but trying to do so could result in legal or financial penalties.

This is just the latest in a series of scams surrounding Social Security. The Seniors Trust is committed to protecting the future of Social Security by working to increase benefits and strengthen its solvency. One of the best ways to do that is through passage of the Social Security Expansion Act. This comprehensive piece of legislation seeks to reform Social Security by expanding and strengthening benefits proven to improve retirement security, providing seniors the benefits they earned, and extending the solvency of this crucial program.