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Social Security went up big in 2023. So did scams.

Maurie Backman acknowledges the darker side that accompanied Social Security benefits increasing at the rapid pace of 8.7% effective in 2023. The Social Security Administration’s Office of the Inspector General noted the record COLA has led to an uptick in scams, which can take on different forms. It might be a call out of the blue, telling you there’s a problem with your benefits and requesting you verify your banking details to make sure payments aren’t held up. Or, you might be contacted by a criminal who threatens to throw you in jail for Social Security fraud if you don’t verify your Social Security number and bank account details right away. Backman notes that, as a general rule, the Social Security Administration will not call, text, or email you out of the blue. Full article here.

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