Scams Affecting Social Security and Disability Payments
Question: What types of scams should recipients of Social Security and other disability payments be aware of?
Answer:
Criminals are targeting the economic stimulus payments that recipients of Social Security and other disability payments are receiving. The American Recovery and Reinvestment Act of 2009 is presenting recipients of Social Security with a one time payment of $250, which many criminals see as an excellent way to make a quick profit. Recipients of these benefits do not have to do anything to receive the payment. They will not be contacted and they should receive the payment in the same way that they receive their current payments.
Banks can protect their customers from scams in the following ways:
Remind customers that the government is not asking for any information related to these payments. Calls or emails claiming to be from the government and claiming that there were errors in processing the payment are scams and should be disregarded.
Warn customers against clicking links in emails from unknown senders.
Educate customers that there is no fee for these payments and the processing should be the same as it normally is.
Train employees to recognize the red flags of scams. Solid employee training is the best line of defense against fraud.
Test policies and procedures for effectiveness.
Maintain records of training completion for all staff members.
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