The U.S. Social Security Administration will no longer let people change their bank information in calls with the agency, it said on March 12.
The Social Security Administration (SSA) said it is retaining all other phone services, describing reports that alleged otherwise as inaccurate.
“SSA is increasing its protection for America’s seniors and other beneficiaries by eliminating the risk of fraud associated with changing bank account information by telephone,” the agency said in a statement.
The SSA analyzed Social Security fraud related to direct deposits and discovered that about 40 percent is related to an individual calling the agency and changing direct deposit bank information….