Scammers Target Remaining Stimulus Checks: What Recipients Need to Know
Although the US bailout, which approved the latest round of stimulus checks, was enacted in March, some people have yet to see this third payment hit their bank accounts. In fact, the IRS is still sending money to beneficiaries who did not receive their $ 1,400 salary earlier in the year.
But if you haven’t received your stimulus money yet, you’ll need to be careful. According to CNBC, the Federal Trade Commission (FTC) recently reported that scammers are now targeting third stimulus checks, and the last thing you want to do is lose that money to fraud.
One Email a Day Could Save You Thousands
Expert tips and tricks delivered straight to your inbox that could help save you thousands of dollars. Register now for free access to our Personal Finance Boot Camp.
By submitting your email address, you consent to our sending you money advice as well as products and services which we believe may be of interest to you. You can unsubscribe anytime. Please read our privacy statement and terms and conditions.
How to Protect Your Stimulus Check
Many people are relying on their stimulus checks to cover expenses, pay off debts, or shore up personal finances in the wake of the pandemic. Since inflation increases the cost of many daily expenses, many people need their stimulus funds more than ever.
Unfortunately, the criminals were very active in recovering this money. One tactic they’ve used recently is to send emails that appear to be from the IRS with links that recipients can click to access their stimulus funds. But clicking on any of those links could lead to a page where you’re asked to enter personal information that a criminal could use to steal your stimulus – and potentially steal from you in other ways as well.
How can you avoid losing your stimulus control? It’s simple: don’t reply to any unsolicited e-mail. Most importantly, avoid emails that contain links or ask you to provide personal financial information, such as bank details.
Although the IRS can contact you by mail, the agency does not send emails. The IRS also won’t attempt to contact you via text or social media to ask for information, so if you see something happening through any of these channels, your best bet is to report it as fraud.
Better yet, if someone is trying to rip you off your stimulus funds or steal any other type of personal information, report it on the FTC website. It could help prevent someone else – someone who may be less savvy than you – from being a victim of financial fraud.
While you might think criminals would back off during the pandemic, fraud has actually been extremely rampant. As of mid-October, Americans had lost $ 586 million to fraud.
It is important to recognize the signs of a scam, not only with regards to your stimulus check, but across the board. Anytime someone unexpectedly contacts you and asks you to provide banking information, confirm your social security number, transfer funds to a specific destination, or buy and send gift cards, this is a sure sign that you are dealing with a scam. . Your best bet is to protect your personal information and report these fraud attempts so that the right parties can investigate and try to put a stop to them.