The $600 Payment & COLA Scams Gain Traction. Experts Warn Watch Out. - AMAC & Yahoo Finance
Social Security scams are hardly new, though the level of sophistication is increasing. Jason Collins reports that the Social Security Administration (SSA) is coming out swinging on the latest one time $600 payment scheme. He notes the agency was receiving around 463,000 calls per day about these fake benefit increases. The SSA also warned citizens to be extra vigilant of scammers trying to gain access to their Social Security details in exchange for a COLA increase. This scam has gained so much traction because the SSA issues the COLA annually, so many may assume it is correct. Full article here.
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