As 2022 gets underway, retirees across the country are taking a careful look at their finances and making plans for the year. High COLAs for Social Security beneficiaries and new guidelines relating to the COVID-19 pandemic might ease some worries for seniors this year. However, one thing retirees need to keep in mind as they plan for 2022 is how to stay safe from a new senior scam.
How does this scam work? Scammers are targeting Social Security beneficiaries by sending fraudulent letters on official-looking letterheads. According to the Social Security Administration, these letters will ask recipients to call a number to activate their cost-of-living adjustment. However, the SSA cautions that COLAs are automatic. While the scammers might use authentic-sounding names, even the names of real SSA officials, you should be wary of anyone making threats or demands.
What This 2022 Senior Scam Looks Like
What can you do to stay safe? Ignore letters, texts, emails, or calls from anyone who:
- Demands your personal information
- Threatens to suspend your SSN or seize your bank account
- Demands payment, often through gift cards
Have a loved one look over any messaging you find suspicious. And you can report scam attempts to the Social Security Administration so they can investigate.