We have a long way to go to get through the coronavirus crisis — by all indications it is going to get worse before it gets better — but we have seen numerous heartening examples of pulling together.
And then there’s the other side of it. Those who look forward to fear and uncertainty in society for personal gain, often taking advantage of the elderly. The scammers.
With federal and state lawmakers instituting numerous policies to lessen the burden on American workers and taxpayers, such as proposed stimulus checks and tax leniency, scammers have a wealth of new opportunities as hackers and malicious online actors target those already struggling. According to the cybersecurity firm Criticalstart, there’s always an uptick in online scams at this time of year in an effort to steal tax payments or refunds.
“The same will likely hold true now as we expect to see an uptick in scammers taking advantage of the current COVID-19 pandemic with phishing (Email), vishing (Voice), or smishing (SMS) attacks,” said Quentin Rhoads-Herrera, director of professional services at Criticalstart. “We’re anticipating a spike in online financial scams as the federal government works to stimulate the economy. Ideas such as sending checks to Americans ‘immediately’ to help cushion the economic impact of the coronavirus outbreak will surely open the door for online financial scams.”
Along those lines, a news release from Baltimore Gas and Electric Company this week warned customers of scammers taking advantage of COVID-19 as well. The company has seen an increase in scam reports over the past week with scammers attempting to use this health crisis to trick utility customers, BGE said in a news release, and has received reports that scammers are offering cash or credit incentives from BGE in order to obtain a customer’s personal or financial information.
"It is unfortunate that scammers are using this time of health and financial uncertainty to attempt to deceive our customers,” Tamla Olivier, senior vice president and chief customer officer for BGE is quoted as saying. “These scammers are constantly changing their tactics and it’s important that our customers stay vigilant to avoid becoming victims.”
Unfortunate indeed. In some cases, the recorded message that customers hear when calling a legitimate company has been duplicated by scammers, so when customers call the number provided by the scammer, it sounds like an actual business. Some scammers also use caller ID “spoofing” to replicate a utility’s phone number.
So take precautions. The Federal Trade Commission lists 10 tips to avoid being scammed.
· Spot imposters. Scammers often pretend to be someone you trust (a government official, family member or charity for example).
· Do online searches. Type a company or product name into a search engine with words like “review,” “complaint” or “scam.”
· Don’t believe caller ID. Technology makes it easy for scammers to fake caller ID information, so the name and number you see aren’t always real.
· Don’t pay upfront for a promise. Never give payment information to someone offering debt relief or mortgage assistance.
· Consider your payment method. Credit cards have significant fraud protection built in, but wiring money or using reloadable cards is far more risky.
· Talk to someone. Before giving out personal information or money, seek out someone you trust.
· Hang up on robocalls. If a caller gives a recorded sales pitch, hang up and report it to the FTC. These calls are illegal, and often the products are bogus.
· Be skeptical about free trial offers. Before agreeing to any offer, research the company and read the cancellation policy.
· Don’t deposit a check and wire money back. By law, banks must make funds from deposited checks available within days, but uncovering a fake check can take weeks.
· Sign up for free scam alerts. Go to ftc.gov/scams to get more tips and advice.
We urge everyone to be aware of potential scams and to engage in due diligence before clicking a button or saying something that could be costly. While being careful with your health during these trying times, also be careful with your wealth.