Uncovering the Secret Stranglehold: How Your Credit Score Could Be Keeping You in the Red
Federal government implements security measures to combat fraud associated with Social Security.
Micah Abigail, a financial influencer and the brains behind SmithFinance, sits down for a candid chat with Fox News Digital about the silent credit crisis that's been silently draining people's bank accounts—and what you can do to break free.
Recently, the Social Security Administration (SSA) has stepped up its defense mechanisms against fraud with the implementation of anti-fraud tools. This follows Elon Musk's alert that scammers were infiltrating the agency's phone lines to pilfer benefits.
To safeguard customers, the SSA has implemented measures that use advanced analytics to identify suspicious behavior within individual accounts. If the technology senses dubious activity, claimants must verify their identity in-person to continue processing their claim.
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Even for in-person claims, the SSA will continue to ensure identities are authenticated.
A Social Security office in Burbank, California, is shown. (Valerie Macon/AFP via Getty Images / Getty Images)
Leland Dudek, the agency's acting commissioner, stated that the changes represent the modernization of their services, offering enhanced security and accessibility.
"These improvements will empower us to detect and deter fraud more effectively while providing a more flexible range of options for people to access their benefits," Dudek said.
According to the SSA, updating their services will help maintain the security of their services while retaining the capability to cater to clients who may not be able to file claims online or visit an office in person.
Last month, on the Fox News' "Special Report with Bret Baier," Musk and other members of the Department of Government Efficiency (DOGE) revealed that a substantial percentage of the daily calls the Social Security office receives involve people trying to alter legitimate recipients' direct deposit destinations with an intent to steal their benefits.
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Aram Moghaddassi, a DOGE engineer, pointed out that the agency receives calls daily from fraudsters trying to modify their direct deposit information. "Approximately 40% of the calls received by the Social Security office are from scammers," Moghaddassi stated.
The in-person identity verification process will be enforced for claimants detected with irregularities. (Annette Riedl/picture alliance via Getty Images / Getty Images)
Baier posed a question to Musk about concerns that DOGE's activities might lead to legitimate Social Security recipients losing out on their payments. However, Musk addressed this concern, stressing that DOGE's actions will actually help ensure that beneficiaries receive their deserved benefits.
"In actuality, the work DOGE is doing will result in increased Social Security receipts for legitimate recipients, not less," Musk explained, emphasizing his point.
FOX Business' Eric Revell helped with this report.
- The secrecy surrounding the credit crisis might be comparable to the silent struggle in ensuring Social Security benefits, as both situations have the potential to negatively impact one's financial situation, including retirement and lifestyle, in the long run.
- As technology advances, pension systems could adopt similar security measures observed in Social Security, including the implementation of anti-fraud tools and personal identity verification, to prevent fraud and secure individuals' benefits.
- While working on cleaning up Social Security's database, Elon Musk's DOGE team might also provide valuable insights into improving the economy by reducing fraud, thus promoting a more secure and efficient financial system for everyone.
