Spot That Scam!
Let's Appreciate the Good - and Watch Out for the Bad
At least two types of people are showing up during the pandemic. Many people are digging in to help in whatever ways they can—cook meals, donate money, volunteer time, etc. But others are looking to make some easy money off other's misfortune.
Thankfully, the good seems to outweigh the bad! But we have to be on our guard to keep the crooks at bay. As conditions continue to change around COVID-19, we must stay alert and keep an eye out for the most common forms of fraud, especially coronavirus relief scams.
Remember, facts are our friends. And it’s probably pretty safe to say that our crazy friend who posts every coronavirus article they read on Facebook is not exactly a qualified resource. Do yourself a big favor right now and arm yourself with the facts.
Don't Be Deceived!
Scammers use many tactics to "turn off" your rational brain and convince you to act on your emotions instead. Watch out for these 7 methods they commonly use.
Fear
This is one of the strongest drivers of emotion. Scammers may threaten you with an IRS audit, a stay in prison, a computer meltdown, a grandchild in trouble, etc. They try to dream up the fear that will trigger instant emotion-driven bad judgement.
Intimidation
Calling you numerous times a day, claiming they know where you live, even threatening you with physical harm - yes, they will stoop this low.
Scarcity
Crooks will try to convince you that something is rare, and therefore it must be valuable. They play it one of three ways - a product (only a few exist!), time (offer expires today!), and winners (only 1 in a million win!)
Phantom Promises
They will dangle offers of things we deeply desire but rarely receive - perhaps a sweepstakes win, a no-risk investment with huge returns, or that dream lover suddenly appearing. Don't fall for it!
Commitment
Most of us have a moral desire to keep our commitments. Scammers pride themselves in their ability to get us to make a commitment to follow their instructions precisely. Then later, as we are getting suspicious of their motives, they will accuse us of going back on our word. Tricky!
Perceived Credibility
These crooks will do everything they can to convince you that they are who they say they are - whether that is an FBI agent, police officer, IRS agent, or a representative of a legitimate financial institution. They will make it sound convincing!
Reciprocity
This is the concept of me doing something for you, then naturally you want to return the favor. These crooks will use this method by offering you something of low value (free shipping, waived fees), and then asking you for something much more significant in return.
Watch Out for these COVID-19 Scams!
Crooks are calling and imitating the IRS, FTC and FDIC in an attempt to get to your personal info. They may pretend that they can help you get your stimulus check faster. Don't fall for it. These official organizations will never call and ask you for your personal information. Report the fraudsters!
Keep an Eye Out for Good News!
No doubt we need to exercise some extra caution to keep ourselves both physically and financially safe, but it’s also important to keep a close eye on all the wonderful ways people are using this time to inspire hope.
For every coronavirus news report you read, there are thousands more untold stories of people and communities finding ways to show up for each other, entertain each other, and inspire one another. Don’t let fear rob you of the ability to see these moments!
And you’re not alone. We may be practicing social distancing or even full-on quarantine, but we’re in this together. Use this time to be intentional—search for the good news, reach out to someone who might be feeling afraid or alone, or join an online community committed to sharing hope.
