(NewsNation) — Americans will no longer be able to change their Social Security bank account information over the phone — a move the agency said will help eliminate the risk of fraud.

"Approximately 40 percent of Social Security direct deposit fraud is associated with someone calling SSA to change direct deposit bank information. SSA’s current protocol of simply asking identifying questions by telephone is no longer enough to prevent fraud," the Social Security Administration (SSA) said Wednesday.

Those who need to update their direct deposit information or make other bank account changes with the agency will have two options:

• Online: Using two-factor authentication via their "

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