LAS VEGAS (KTNV) — A finance expert has a stark warning about scammers trying to collect Social Security checks.
In 2021, the Social Security Administration received more than 568,000 scam reports totaling more than $63.6 million in losses to victims. This year, the agency has received more than 31,000 social security-related scam complaints.
“The scam involves a phone call from someone posing as a local or government official,” said Brad Zucker with SMA Wealth Management. “They may even use robocalls and follow up with emails or texts to convince you that they are investigating you.”
Zucker said that scammers will claim your social security number has been compromised or has been suspended for fraudulent activity, then they try to get the victim’s personal information to reroute their social security payments to a different account. Scammers may also demand money through Paypal, Venmo or even cryptocurrency.
“Don’t fall for these tricks!” Zucker said. “If you are suspicious of the person on the other end of the line, hang up and report the call to the social security administration.”
Zucker also advises people to know who is on the other line of the call. He said to always ask the person to verify who they are and write down his or her name.
The social security administration does occasionally contact recipients, but it is rare. The administration will not ask for a payment by gift card or prepaid debit cards. Representatives will likely deduct from future payments or…
