electronic bank deposits

Are Your Electronic Social Security Benefits Safe?

Posted on 06/19/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsAs Social Security paper checks have been replaced by electronic bank deposits, something unexpected and alarming has occurred. Thieves increasingly are stealing beneficiaries’ payments by rerouting them into their own accounts or onto a debit card. Between October 2011 and June 2013, an astounding $28 million in benefit payments have been stolen. On June 19, the U.S. Senate Special Committee on Aging brought together a panel of advocates and victims to examine the issue and figure out what can be …