Social Security Payments Just Increased, and Scammers Are Already Targeting Retirees
By:
Mary Ellen Cagnassola
Mary Ellen Cagnassola
Reporter | Joined May 2024
Has also written:
See full bio
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Last fall, the Social Security Administration approved the highest cost-of-living adjustment — or COLA — for benefits recipients in over four decades. Now, as government sends out the first checks with the 2023 COLA included, scammers are looking to get a piece of that increase.
What's going on
The Better Business Bureau is advising recipients and their loved ones to keep an eye out for phone, text and email scams that involve the 2023 COLA, which raised Social Security and Supplemental Security Income payments by 8.7% due to inflation.
