Social Security-related scams are very common, according to a March report from the Federal Trade Commission, which said it’s the number one “government imposter scam in the United States.” In 2023 alone, consumers reported losing more than $126.5 million in Social Security-related scams. That's millions!
The U.S. Social Security Administration announced this week that a $600 payment increase scam has been promoted online. Social Security Commissioner Martin O’Malley said, “Reports of a $600 payment increase are FALSE, please be aware and don’t fall for this stunt.”
The claims about a $600 increase appear to be based on reports and projections about the cost-of-living adjustment applied to monthly Social Security retirement benefits and Supplemental Security Income (SSI) payments. These increases are normally announced in October, factoring in federal inflation data for the previous three months, and the cost-of-living adjustment is then applied for the next year. They are automatic and the increases show up in the January payments.
In the release, the agency’s inspector general said that the public should be “keenly aware of any attempts” to gain their personal information related to receiving an increase in Social Security payments.
“The annual cost-of-living increases issued by SSA are ALWAYS automatic. No additional information is required for you to receive the legitimate COLA increase,” Social Security Inspector General Gail S. Ennis said in the release. “Safeguard your personal information as these reports of misinformation are often scam-related attempts to steal your identity, or your money, or both.”
Mr. O'Malley stated on social media that the rumor about a $600 increase wasn’t an isolated incident. In fact, the Social Security Administration’s phone lines received more than 463,000 calls in a single day about the false claim.
In the x.com post, Mr. O'Malley blamed the rash of phone calls on a “bogus news story” but didn’t say where it was published. “Big thanks to all SSA staff who helped customers with this rumor,” he added.