Pursuant to a new Federal regulation, as of March 1, 2013, the
Treasury required almost all beneficiaries to receive payments through
direct deposit. Paper checks are still available to some beneficiaries
under limited circumstances. It has come to FineMark’s attention that
individuals are fraudulently redirecting social security payments.
These unauthorized direct deposit changes are affecting seniors all over
the country and it is happening to FineMark clients.
Please take action if you receive a letter from Social Security
Administration stating a change has been made to your account. If you
have any concerns that your Social Security number may have been
compromised, you can contact your local Social Security office or the
National Line (800-772-1213) and they will be able to answer your
questions. It is also a good idea to contact the credit bureaus about
possible identity theft and have alerts placed on your file.
- Equifax: 1-877-576-5734; www.alerts.equifax.com
- Experian: 1-888-397-3742; www.experian.com/fraud
- TransUnion: 1-800-680-7289; www.transunion.com
most important personal identifier is your Social Security number. To
ensure it is safe guarded and to prevent identity theft, never give your
social security number or bank account number to an unknown individual
over the phone or via email. The growing incidence of fraudulent
changes to Social Security beneficiary accounts is a serious issue
facing the Social Security Administration. For more information and
updates on the progress the Office of the Inspector General is making,
you can visit http://oig.ssa.gov.
If you have any questions about this article, stop by or call your FineMark Office. We are always happy to help.
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2011-2014.