While governments and healthcare experts work tirelessly to defend their citizens against the coronavirus (COVID-19), criminals are also working—to fleece unsuspecting victims. Scammers and opportunists are already capitalizing on the fear and chaos of the current climate in order to commit fraud and get rich quick. Fortunately, there are steps you can take to protect yourself and your business. 

New Opportunities for Fraud

Phishing emails promising valuable information about the virus are already in circulation, alongside fake COVID-19 websites loaded with dangerous malware. And as many Americans begin working remotely on vulnerable home networks and on devices lacking the latest security updates, hacking incidents are on the rise. 

Federal stimulus checks designed to assist struggling Americans and boost the economy will lure even more fraudsters into the arena. The Federal Trade Commission is warning the public about crooks convincing people to pay a fee in order to receive their checks from the government — a dangerous lie with no basis in fact. 

Protect yourself

With fraud and scammers on the rise, how do you protect yourself or your business? Here are a few essentials.

Send unknown phone numbers to voicemail. 

Fight off phone scams by only answering the phone when you recognize the number. If you do answer a call from an unfamiliar number, be wary of anyone making promises about interest-free loans or mortgage payment forbearance. Should you need financial help, always contact a government agency, or reputable charity or financial-service provider directly. 

Clean out your email inbox

Similarly, exercise caution when opening emails—particularly if you don’t recognize the sender’s name. (But always remember that hackers can hijack a friend’s account and send malicious emails to you in that person’s name.) 

Right now, scammers are likely to use enticing subject lines such as “Cure for COVID-19” or “Make big $$$ working from home.” If you open one of these emails by mistake, remember to never click on any links or attachments.

Don’t fall for charity fraud

Charity schemes are a time-tested method for taking advantage of generous individuals and companies willing to help others by donating money towards a worthy cause. While donating money to organizations fighting COVID-19 and assisting its victims is a noble endeavour, be sure to only give to reputable charities. If you aren’t familiar with a nonprofit, ask for its tax ID number and verify it with the IRS before making a donation. You should also conduct your own research into any charitable organization via  watchdog sites such as Charitynavigator.com and Charitywatch.com.

Say “no” and go

Most Americans are uniting together to fight COVID-19. However, many criminals view the pandemic as an opportunity to profit, so maintaining a healthy skepticism is wise. If you’re suspicious, hang up, delete, or just say “no.”

As always, remember to reach out to your trusted Smolin professional with any questions or concerns.