Don't Get Caught in a Coronavirus Relief Payment Scam

The first batch of the third round of Coronavirus relief payments from the government arrived for many people last week by direct deposit. More stimulus payments are on the way in the form of direct deposit, Direct Express debit card, or a paper check – whichever manner you receive a tax refund, Social Security, retirement, or other benefits coming from the government.

This means scammers will begin their work preying on unsuspecting people to gain access to this money. Once again, we want to encourage you to be aware of their possible tactics and do not let them be successful.

Here are some tips to avoid a Coronavirus relief payment scam:

  • Don't respond to calls, texts, or emails about money from the government – or anyone asking for your personal information such as your Social Security number or your bank account information. Remember, the IRS will not contact you by phone, email, text message, or social media about your relief payment. You can visit the IRS website to learn more about how scammers phish for your information.

  • Do not respond to anyone asking for payment for you to get your relief money.

  • Watch out for a fake check scam. This tactic unfolds with someone contacting you saying you were paid too much and you need to repay the money by sending cash, a gift card, or a money transfer to the scammer.

  • For more information about scamming, check out the Federal Trade Commission or the Internal Revenue Service.

  • If you want to check the status of your payment, you can click here to access the IRS Get My Payment tool.

  • If you suspect you have been a victim of a scam, report it immediately to the Federal Trade Commission at ReportFraud.ftc.gov.

Previous
Previous

Financial Tips to Know Before Starting College

Next
Next

Advice for Emerging Financial Planners