The Federal Trade Commission (FTC) highlights a significant increase in financial losses due to Social Security scams, urging consumers to be cautious. In 2023, individuals lost over $4.6 billion to these schemes, with bank transfers and cryptocurrency becoming increasingly popular methods. The FTC emphasizes the importance of safeguarding Social Security Numbers and advises against sharing them readily.
The Federal Trade Commission is the government body tasked with protecting American consumers. The FTC sounded the alarm last year when it, with more than $4.6 billion of their money handed over unknowingly. It was a 21% increase from the year before. “The second highest reported loss amount came fromIt added that in 2023, consumers lost more money to bank transfers and cryptocurrency than all other methods combined.. And it put the median loss at around $500 per person.
never hand over your SSN blindly. But rather, do the following if anyone ever asks for that information… Levin also suggests negotiating with the person who asked. You could instead offer your driver’s license or account number as a form of identification. By entering your email and clicking Subscribe, you're agreeing to let us send you customized marketing messages about us and our advertising partners. You are also agreeing to our Terms of Service and
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FTC Warns of Rising Consumer Scams, Emphasizes Protecting Social Security NumbersThe Federal Trade Commission (FTC) has reported a significant increase in consumer fraud, with Americans losing over $4.6 billion in 2023. The FTC highlights the dangers of bank transfers and cryptocurrency scams, urging individuals to safeguard their Social Security Numbers (SSNs). Experts advise being cautious about providing SSNs, verifying the legitimacy of requests, and negotiating alternative forms of identification when possible.
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Senate passes Social Security benefits boost for many public service retireesWASHINGTON (AP) — The Senate passed legislation early Saturday to boost Social Security payments for millions of people, pushing a longtime priority for former public employees through Congress in one of its last acts for the year.
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Senate passes Social Security benefits boost for many public service retireesWASHINGTON (AP) — The Senate passed legislation early Saturday to boost Social Security payments for millions of people, pushing a longtime priority for former public employees through Congress in one of its last acts for the year.
Read more »
Senate passes Social Security benefits boost for many public service retireesWASHINGTON (AP) — The Senate passed legislation early Saturday to boost Social Security payments for millions of people, pushing a longtime priority for former public employees through Congress in one of its last acts for the year.
Read more »
Senate passes Social Security benefits boost for many public service retireesWASHINGTON (AP) — The Senate passed legislation early Saturday to boost Social Security payments for millions of people, pushing a longtime priority for former public employees through Congress in one of its last acts for the year.
Read more »