COVID-19 and Fraud

Two people on laptops with phones and credit cards

Fraudsters are changing their schemes to prey on the heightened anxieties that people are experiencing during these uncertain times.

The four fraud trends that are impacting consumers are not particularly complex. As many criminals often do, they are finetuning their tactics to capitalize on fear and compassion that people are feeling during this pandemic.

  • Imposter Scams – These scams involve criminals contacting consumers and attempting to obtain personal and banking information by impersonating agencies that are associated with COVID-19 or the U.S. government. These have included unemployment benefits and small business loans.
  • Charity Scams – One of the most disheartening online trends has been the effort to steal funds from individuals who are sympathetic to a cause and who willingly give of their money to what they believe is an organization aligned with their beliefs.
  • Product Scams – Possibly one of the most difficult forms of scams to try and identify and measure are those related to product purchases. These scams involve selling consumer products with questionable or no effectiveness. The risk with product scams may entail theft of consumer funds to pushing ineffective products.
  • Investment Scams – People buying something from you online “accidentally” send a check for too much and ask you to refund the balance.

Things to Keep in Mind:

  • Imposters and scammers will try to exploit you in many different forms, including email, SMS messaging, messaging services, and even through direct calls.
  • There is a list of scam charities documented on the Federal Trade Commission website.
  • Most product scams are committed though online and messaging channels.

How We Can Help:

  •  If you have concerns or questions regarding fraud please feel free to call us at 432-550-9126.

Fraudsters are changing their schemes to prey on the heightened anxieties that people are experiencing during these uncertain times.

The four fraud trends that are impacting consumers are not particularly complex. As many criminals often do, they are finetuning their tactics to capitalize on fear and compassion that people are feeling during this pandemic.

  • Imposter Scams – These scams involve criminals contacting consumers and attempting to obtain personal and banking information by impersonating agencies that are associated with COVID-19 or the U.S. government. These have included unemployment benefits and small business loans.
  • Charity Scams – One of the most disheartening online trends has been the effort to steal funds from individuals who are sympathetic to a cause and who willingly give of their money to what they believe is an organization aligned with their beliefs.
  • Product Scams – Possibly one of the most difficult forms of scams to try and identify and measure are those related to product purchases. These scams involve selling consumer products with questionable or no effectiveness. The risk with product scams may entail theft of consumer funds to pushing ineffective products.
  • Investment Scams – People buying something from you online “accidentally” send a check for too much and ask you to refund the balance.

Things to Keep in Mind:

  • Imposters and scammers will try to exploit you in many different forms, including email, SMS messaging, messaging services, and even through direct calls.
  • There is a list of scam charities documented on the Federal Trade Commission website.
  • Most product scams are committed though online and messaging channels.

How We Can Help:

  •  If you have concerns or questions regarding fraud please feel free to call us at 432-550-9126.

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This post was written by Alyssa Chavira

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