As the Social Security Administration seeks to curb identity fraud, more people will now be required to visit an office to prove their identity for new benefit claims and direct deposit changes. ... The changes are aimed at helping to avoid the fraudulent redirection of benefit checks, which the agency has been warning about for years. ... SSA estimates the agency is now losing more than $100 million per year due to direct deposit fraud. ... The change may require foot traffic to Social Security offices nationwide to increase by about 75,000 to 85,000 more in-person visitors per week, according to reports on an internal Social Security Administration memo. ... The AARP, an interest group that represents Americans ages 50 and over, urged the Social Security Administration to reverse the decision.
In fiscal 2024 Social Security paid out $1.35 trillion in benefits. $100 million is 0.0074% of that!
I predict that the costs of this silliness will exceed the savings.
