Thieves are using Social Security direct deposit to steal millions from beneficiaries

Over at The Seniors Center Blog, we’re talking about a new report from The Washington Free Beacon revealing an astounding $6 million in Social Security payments has yet to be recovered from thousands of misrouted direct deposits claimed by identity thieves.

What was meant to be a convenient tool for Social Security beneficiaries to set up or edit their bank information and receive their benefits directly in their accounts, My Social Security is now a huge target for fraudsters looking to exploit this convenience by redirecting retirees’ payments into their own pockets.

The Seniors Center Blog describes the scam in greater detail and what you can do to protect yourself before a scammer strikes.