Despite the government’s best efforts, fraudsters continue to try to scam seniors out of their Social Security benefits. A recent study by SimplyWise found that 53% of seniors were targeted by scammers during the third quarter of last year. What’s even scarier is that more than 20% of seniors experienced at least three attempted tries of Social Security fraud.
CNBC looked into this growing cause for concern and found there are a few things seniors can do to protect themselves:
- First and foremost, report any suspected scams to the Social Security Administration. The number to the Fraud Hotline is 1-800-269-0271. You can also file a report on the Office of the Inspector General’s website.
- Be suspicious of unsolicited calls. Social Security will not call you out of the blue. If you receive a call, hang up. Do not engage with the scammer.
- Be wary of suspicious emails and text messages as well. They should also be reported as fraud.
- Never give out your Social Security number.
The Seniors Trust is working to protect seniors and the Social Security system.
We are calling on Congress to immediately pass the Social Security Expansion Act. This landmark piece of legislation will make four major changes to Social Security for retirees: increase monthly benefits; establish a fair annual COLA; reduce senior poverty; and guarantee the long-term solvency of the Social Security program.