Unfortunately, many scammers are trying to take advantage of the coronavirus pandemic to dupe people out of their money. Many of the tactics being used are not new, but we must have a heightened sense of diligence to protect ourselves, and those at higher risk of falling prey to scams due to the increased isolation we are experiencing. We will continue to add updates as new scams are flushed out.
COVID-19 Stock Scams
Like many of the circulating scams we have pointed out, shady stock promotions, like “pump-and-dump” schemes are not new. But schemes are upping their efforts to capitalize on the pandemic to fraudulently promote the stocks of companies based on bogus claims.
Fraudulent Small Business Loan Sites
With the new round of funding for the Payroll Protection Program and the Economic Injury Disaster Loan program, there are new attempts to try to scam business owners out of money.
Be Careful with the Facebook #Classof2020 Challenge
This may seem harmless as people try to show support for graduating seniors who are missing the final weeks of their senior year and possibly graduation itself. The idea is to post your senior picture from yester-year along with your high school name and graduation year.
Stimulus Check Scams
As part of the CARES Act passed and signed into law in late March, most Americans will be receiving stimulus or relief checks beginning in April.
Testing, Treatment, PPE Scams
Given the level of fear and concern over the pandemic, many people are looking for testing-at-home options, treatments to protect or “cure” them, and PPE (personal protective equipment) like gloves and masks.
This scam has been out there for some time, but a good reminder to be diligent.
Phishing Emails and Malicious Website/Apps Scams
Again, phishing emails and malicious website scams are not new, but the pandemic has opened another avenue for these scams to target people.
Fake Charity Scams
Scammers try to take advantage of your generosity by posing as a fake charity and asking for donations. Reach out directly to your preferred charities via their website and contribute to them directly.
It is important to stay on alert for scams, not only for you but for your vulnerable loved ones as well. If you do not recognize a number or organization reaching out to you OR if it sounds too good to be true, it may be a scam.
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