How to Protect Yourself from the Social Security Imposter Scam

Dear Savvy Senior,

I recently received a strange call from a Social Security employee. He told me my Social Security number had been suspended because it was involved in a crime, and that I needed to reactivate it and secure my bank funds by withdrawing them and putting them on gift cards. Is this a scam?

Worried Rita

Dear Rita,

Yes. It’s actually known as the “Social Security imposter scam” and it’s becoming a widespread problem in the U.S. The Federal Trade Commission has received more than 76,000 reports about this growing scam in the past 12 months alone. With average losses of $1,500, thi...