To honor National Slam the Scam Day on March 9, an initiative created in 2020 to help raise public awareness and prevent Social Security-related scams, we’ve compiled a list of the most common red flags to be on the lookout for.

According to the Social Security Administration, here are four signs of a Social Security-related scam:

1. Often, fraudsters pose as representatives from familiar organizations or agencies like the Social Security Administration (SSA) or Internal Revenue Service (IRS). To try to trick you further, they may include email attachments with official-looking logos or employee credentials and signatures.
2. They typically prompt a problem or a prize to pique your interest or instill fear. Fraudsters often create false narratives around your social security number being used in a crime to cause panic. On the other end of the emotional spectrum, they will guilt you into providing personal information with false hopes of increased benefits.
3. Time is of the essence. To avoid getting asked too many questions, fraudsters will pressure you to act immediately with threats of arrest or legal action.
4. Lastly, fraudsters will encourage you to make any false payments using a gift card, prepaid debit card, wire, or cryptocurrency only. This allows the fraud scheme to go undetected, remain untraceable and limit any dispute rights.

Unfortunately, fraudsters have become increasingly maleficent, and their scam/identity theft tactics are hard to decipher. Luckily, the SSA Office of the Inspector General has a reporting form for your protection.

If you believe the scammer may have access to your personal or financial information like social security number, routing/account number or debit card number, reach out to Fraud Prevention at 1-800-964-3444.

Your financial health is important to us. That’s why FirstBank has created a library of resources to help you avoid getting scammed. Check out efirstbankblog.com to learn more!

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