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Avoiding Scams During the Coronavirus Pandemic

By: Fairmont FCU
Published: 04/13/2020
Avoiding Scams During the Coronavirus Pandemic

As the Coronavirus continues to surge, people throughout the country are doing their best to stay healthy, safe and vigilant during these unprecedented times. And, while we’re seeing many companies and people offering ways to help one another such as interest forgiveness, food programs for children, and even sewing hand-made masks, others are taking advantage of the growing fear. As a result, the internet has become riddled with opportunistic scammers looking to exploit the pandemic. 

Here’s what you need to know:

What Type of Scams to Look Out For

According to warnings from the Federal Trade Commission (FTC), scammers are setting up websites to sell fake products and using fake emails, texts, and social media to get your personal information. That’s why it’s important to be cautious and avoid the following:

  • Emails claiming to be from the Centers for Disease Control and Prevention (CDC)
  • Social media posts or e-mails from experts claiming they have information about the virus
  • Offers or ads offering vaccines, prevention, treatment or cures for the Coronavirus 

How to Safeguard Yourself

E-mails, social media posts, and even text messages from scammers may include donation requests, fake information about your local area, and advice on unproven treatments. Fortunately, by taking the proper precautions you can safeguard yourself.

  • Ignore any online offers for vaccinations- It’s unlikely that if one were made available there would be ads for it.
  • Research charities- Don’t be quick to donate, instead thoroughly research them. Don’t donate through wiring money, cash, or gift card.
  • Don’t click on random links- If you have a link from a source you’re not familiar with don’t click on it as it could contain a virus that would download onto your computer or device.
  • Beware of ‘investment opportunities’- According to the U.S. Securities and Exchange Commission (SEC), there are online promotions claiming that the products or services of publicly-traded companies can prevent, detect, or cure coronavirus and that the stock of these companies will dramatically increase in value as a result. They may also be on social media and should be avoided.

In the midst of a pandemic where fear and anxiety is high, it’s important to be cautious with the information we trust and share. For the most up to date information on the Coronavirus, visit the Centers for Disease Control and Prevention (CDC) or the World Health Organization (WHO). You can also sign up for consumer alerts from the Federal Trade Commission for information on the latest scams and help on how to avoid them.

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