Social Security fraud

The New Hampshire Banking Department has asked the League to notify credit unions that it has been made aware of instances where individuals have used fraudulent identification documents to open accounts at depository institutions.  Once the account is established, the perpetrators use the Social Security website to redirect the benefits payments using stolen personal information.  ATM cards are being used to withdraw funds.

Institutions should be alert to an inordinate or unexplained volume of Social Security direct deposits into either new or existing accounts.  Additional guidance and tips are found in the fraud advisory (use this link).  Social Security beneficiaries complaining of payment interruptions should be informed of this fraud advisory which includes relevant contact information and instructions.