The COVID-19 pandemic wreaked havoc not only on people’s physical health but also on their financial health. To make things even worse, fraudsters also took advantage of the pandemic-related fears.
Being familiar with the dreaded COVID-19 scams will help you determine exactly what to watch out for to ensure that you don’t fall prey to these predators.
FDIC/Bank Scams
Scammers are now impersonating a bank or FDIC employees, making false claims that there are some security concerns with bank deposits or that banks are limiting the client’s access to deposits.
Charity Scams
Many fraudsters are also seeking donations for nonexistent or illegitimate organizations.
COVID-19 Vaccine Scams
The FTC noted that the release of the COVID-19 vaccines led to scammers scheming to get the consumers’ financial or personal details.
Malware
Yet another common COVID-19 scam is the delivery of malware through sensationalized reports or virus-tracking apps.
Investment Scams
There are also investment scams usually styled as research reports that claim that services or products of some publicly traded companies can detect, cure, or prevent COVID-19.
Supply and Phishing Scams
Scammers are also impersonating businesses and health organizations to gather financial or personal information or sell fake cures, test kits, supplies, or vaccines for COVID-19.
Provider Scams
Scammers are also impersonating hospital staff and doctors and contact victims that claim to have treated a friend or relative for COVID-19 and ask for payment for the treatment.
Economic Relief or Stimulus Check Scams
There are also reports regarding the government lending a hand to ease the virus’ economic impact by sending money via direct deposit or check deposit. But the government will never ask for any fee just to receive such funds. They also would never ask for your account or personal information.
How to Avoid Becoming a COVID-19 Scam Victim
With the prevalence of COVID-19 scams, it is even more important to be vigilant at all times. Here are a few tips to save yourself from falling victim to these scams:
- Before investing in anything, don’t forget that there is a high risk of fraud these days. Watch out for companies that claim the ability to cure, detect, or prevent coronavirus.
- Change your current security settings to allow multifactor authentication for supported accounts. MFA or multifactor authentication is the second step of verification about who you are such as a text with a code.
- Never donate before doing some research first. Be cautious of any individual, charity, or business asking for COVID-19-related donations or payments via mail, gift card, wire transfer, or cash.
- Report COVID-19 scams to help others and stay updated with the latest scams.
- Keep your mobile devices and computers updated. Having the latest operating system, security software, and web browser is the best defense against malware, viruses, and other threats online. Turn on your automatic updates to receive the latest fixes once they are available.
Even the pandemic won’t stop scammers and fraudsters from doing their thing. Being extra careful with your actions and decisions can safeguard you from becoming the next victim of these COVID-19 scams.