As a new retiree who has just started receiving Social securitythe last thing on your mind may be someone trying to take your money. Unfortunately, Social Security scams are real and can leave victims scared and with a hole in their wallet.

These types of scams usually involve the scammer posing as an official agency and asking the unsuspecting victim to provide their personal information which can then be used for more nefarious purposes. Other scams demand payment over the phone and threaten legal action against you if you don’t pay.

It’s a scary prospect, but with the right knowledge, you can spot the signs of a scammer and stop them before they go any further. Below we’ll explain what to look for and what to do if you’ve fallen for one of these scams.

To find out more, don’t miss how and when to change your social security number And the Social Security payment schedule.

How to Spot the Signs of a Social Security Scam

THE The Social Security Administration provides a list of signs and tactics used by scammers. Here are four potential signs of a scam:

• Scammers often pretend to be from an agency or organization to gain your trust.
• The purpose of the call is usually to inform you of a problem or that you have won a prize.
• Scammers will pressure you to act quickly.
• The scammer will need a specific payment method.

Additionally, here are other known tactics used by scammers:

• Threaten legal action if you don’t agree to pay what they’re asking for immediately.
• Will tell you they will suspend your social security number.
• Will ask for personal information to confirm or activate a COLA (cost of living) or other increase in benefits.
• Create a sense of urgency and put pressure on you to act immediately, including on sensitive personal information.
• Ask to pay with gift cards, prepaid debit cards, wire transfers, cryptocurrencies or by mail in cash.
• Threaten to seize your bank account and assets.
• Offer to transfer money to a “protected” account.
• Demand secrecy of any interactions you have had with them.
• Message each other on social media.

Do you think you have been the victim of a scam? Here’s what to do

If you find yourself in any of the situations above or think you’ve already been scammed, take action by following these steps:

• If you are on the phone with a potential fraudster, hang up and stop interacting with them. Avoid clicking on links and downloading or even opening attachments sent by the scammer.
• File a report At Office of the Inspector General.
• Notify the three major credit reporting agencies of the incident: Experian, TransUnion and Equifax. Ask each bureau to place a fraud alert on your credit report.

Scams like this are becoming more common and sophisticated, so don’t blame yourself or be embarrassed about falling for their tactics. Be sure to file a financial scam report with the SSA if you have suffered a financial loss.

Contact the Social Security Administration

For more information about scams or to file a report with the Social Security Administration, call:

• Social Security telephone number: 800-772-1213
• Social Security telephone number for people with disabilities: 800-772-1213
• Medicare phone number: 800-633-4227
• Social Security Fraud Hotline: 800-269-0271

Do you have other questions about social security? Don’t miss it Social Security and SSDI Cheat SheetAnd Four Ways to Suspend Your Social Security Benefits.