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Nearly $11 million in improper payments made by Social Security
In a chilling report by Social Security’s Office of the Inspector General (OIG), it was revealed that over the period of 2014 – 2016, nearly $11 million in benefit payments were made to wrong bank accounts. This was largely the result of thieves hacking into beneficiaries online accounts and changing the bank deposit information. Although some of the money – about $4.7 million – has been recovered, the rest is irretrievable. As you may know, the Social Security Administration has been steadily increasing security features for its online “My Social Security” account system, and the OIG report provides a compelling reason to wholeheartedly embrace those security changes. This Independent Women’s Forum article by Patrice Lee Onwuka discusses this issue in more detail. Click here to read more.