Run a Google News search for COVID Scam and you’ll find an endless stream of negative articles. These range from a California doctor busted for selling a bogus “miracle cure,” to a staggering number of stories describing pandemic-related malware and phishing email scams in the past two months.

Then there are news alerts from the Federal Trade Commission, Federal Bureau of Investigation, and U.S. Department of Treasury (among others) telling us to avoid being pulled into these scams and rip-offs. It’s not like we don’t have enough on our plates with this pandemic, now we now have to watch out for criminals determined to scam us out of our money — often when we’re at our most vulnerable.

Here at Stees., Walker & Company, LLP we hate to see anyone being suckered by a clever con, so in this post, we offer guidance on how to protect yourself and your money in these difficult times.

Recognizing Common Scams and Hoaxes

One of the best ways to avoid falling victim to a scam or hoax is to recognize how the fraudsters operate. Here are some common scams and hoaxes to beware of:

• Government imposters: “Con” is short for “confidence,” and what elicits more confidence from people than the belief that they’re dealing with a trusted government representative? Con artists often reach out to people via social media, emails, phone calls, and even knocking on their doors, trying to win their confidence. They present themselves as government agents offering to help, and they use greed or fear to trigger impulsive action. For example, a recent text message claiming to come from the “FCC Financial Care Center” offers $30,000 in COVID-19 relief. Another text message impersonating the U.S. Department of Health and Human Services informs recipients that they must take a “mandatory online COVID-19 test” by clicking a certain link. Whenever someone claims to be from the government threatening punitive action or offers to help, tread very carefully.
• Scams related to stimulus payments: Taxpayers should be on the lookout for IRS impersonation calls, texts, and email phishing attempts about the COVID-19 Tax Relief and Economic Impact Payments (the so-called stimulus checks). The con artists involved in these scams are looking to steal your stimulus payment or your identity. Take the following precautions: Continue reading… Continue reading… Continue reading…