Government Relief Checks Trigger Latest Coronavirus Scam
The federal economic impact package announced this week includes sending every American a check to offset lost income from the coronavirus crisis. Scammers wasted no time in taking advantage of this news! BBB has reports on BBB Scam Tracker (BBB.org/ScamTracker) about government imposters calling about the checks. Watch out for these phony government grants that ask for personal and banking information.
Copyright 2020 Better Business Bureau. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.
The Bottom Line On Fake Check Scams
If someone you don’t know sends you a check and asks for money back, that’s a scam.
Copyright 2020 ftc.gov, official website of the National Credit Union Administration. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.
Common Check Scams
Fraudsters increasingly use e-mail to contact victims and the most common check scam is the "Nigerian Advance Fee Fraud." You are told you will be sent a check for an additional sum and you are asked to wire back the excess money. Scammers purport to be from other countries and claim you can collect on a sweepstakes or pay you to work at home. The realistic-looking checks or money orders are counterfeit, but victims are responsible for any unpaid item presented for collection.
Tips for our members:
- Do not accept checks or money orders for an amount greater than the selling price.
- Do not send refunds or deliver goods in the time it takes cashiers' checks or money order to clear.
- Be skeptical of anyone asking you to wire money to overseas bank accounts or to cash money orders or checks on their behalf.
- Know who you are dealing with--never give out personal or financial information to anyone you do not know.