Criminals show how quickly they can ramp up a new fraud scheme. They have already developed several schemes that appear to be working, as identified in this Forbes article:
“The Better Business Bureau is already reporting that government imposters are calling about COVID-19 relief. As part of the scam, callers suggest that you might qualify for a special COVID-19 government grant and that it’s necessary to first verify your identity and process your request. Variations on the scheme involve contacts through text messages, social media posts, and messages.
Other twists on the scam suggest that you can get more money from the government – or get your stimulus check faster – if you share personal details and pay a small “processing fee.” Don’t take the bait. Stimulus checks are free money from the government. You don’t need to spend money to receive your check. And there are no short-cuts – even for a fee.
The Internal Revenue Service (IRS) will deposit your check into the direct deposit account you previously provided on your tax return (or, in the alternative, send you a paper check). The IRS will not call and ask you to verify your payment details. Do not give out your bank account, debit account, or PayPal account information – even if someone claims it’s necessary to get your stimulus check. It’s a scam.”
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group
