According to Chase Bank, scammers are taking advantage of the COVID-19 epidemic by utilizing misinformation and fraud from fake cures, to charity scams and false investment information.
Chase Bank states that so far, people have reported losing more than $13M to fraud.
With the distribution of the stimulus checks, new scam threats are coming to light and the Department of Justice and the IRS are warning the public that the scammers are out and will attempt to trick you into sharing personal information.
The Press Release can be viewed below:
Spot & Avoid
Chase is sharing tips to help consumers protect their finances and financial information. Experts suggest triple-checking any social message, email or solicitation you receive, especially if it mentions COVID-19 and avoiding emails that have an urgent call to action or suspicious links, especially when the call or email asks for personal information. Financial institutions will not ask for confidential information—such as your name, password, PIN or other account information—when they reach out to you.
The best way to stop fraud is to learn to identify it, and there are tools that help people recognize scams, such as the infographic below. It shows some of the ways you can detect scams attempts related to your banking information.
Anyone who feels they have been targeted by a scammer also has recourses to take action. The Federal Trade Commission offers information about common COVID-19 scams and a form to submit complaints: ftc.gov/complaint. It also reminds people that the government will never call out of the blue to ask for money or your personal information (like Social Security, bank account, or credit card numbers). And second, anyone who tells you to pay by Western Union or Money Gram, or by putting money on a gift card, is a scammer. The government and legit businesses will never tell you to pay that way.Chase Bank