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Know Stimulus News Scam Threats You Should Avoid

Posted by Parkerjoseph on 2022-01-07 05:57:11

Covid 19 pandemic has been among the greatest catastrophe that no one knew about. The lockdowns and sensation of movement have affected people's economies and financial abilities by far extent. The unemployed people before the pandemic have been among the most significant hit. However, many countries introduced stimulus packages to cushion their citizens from the effects of the pandemic. 

As of November 2020, every member state of the G20 had rolled out a Covid 19 stimulus package to provide relief to its citizens. The stimulus packages have come in different styles, such as direct cash payments, tax relief, and loan repayment extension. 

US president Joe Biden has recently postponed the repayment of the student loans for ninety days to provide relief and time to monitor the economy's performance with the growing number of cases of Omicron variant. 

Governments have been the sources of the stimulus news. Many peopled have been thrilled by the idea of getting some financial help to cushion against tough financial times with the pandemic. Many people have thus been feeding on every information they get along on the stimulus package. 

Scammers have been taking advantage of the desperate citizens looking for the stimulus news to scam them of the few funds left with them. According to the US Federal Trade Commission, US citizens lost up to $221 million in stimulus fraud in 2020. 

The US government has rolled out three stimulus packages that have significantly boosted the financial performance of their citizens. The government has assessed families' financial needs and rolled out the stimulus. 

However, the rise of the Omicron variant leaves many US citizens gasping for any information on the possibility of a fourth stimulus package. Fake Stimulus news is on the rise in the US and the states. If you are not keen enough, you could fall prey to the fraud circulating on the fake Stimulus news. However, the following scam threats tips should help you avoid being scammed online. 

Be aware of unsolicited calls and emails. 

Many fraudsters will call in new contacts and send emails to impersonate government agencies working with the stimulus packages. Therefore, to be safe, receive calls but not share your details with strangers. Insist on calling back the government agents using the official numbers listed in the government department sites. Avoid answering emails that are not government official contacts for the departments. 

Scam Texts 

Be aware of the scam texts as scammers frequently use this method. They will send you text messages telling you to verify your details with them. They then impersonate you and break into your bank accounts. Any suspicious message requiring you to verify or send your details concerning the stimulus package may be from scammers. The governments rarely ask citizens to verify their details through text messages. 

High pressure to call for action.

A common thing with most scammers is making you feel that you are on the verge of losing the stimulus package if you do not respond immediately. Therefore, any requirement to send your details immediately and threats that you may lose the stimulus package if you delay could be from scammers. 

Fake Checks 

Sending fake but lookalike cheques is another recent method scammers are using to fraud citizens of their funds. They will contact you and send a cheque that looks like a real one. However, after banking the cheque, they call back telling you that they have sent you the stimulus in excesses and that you need to send the surplus back to them. 

Transaction fees 

If anyone contacts you requesting that you send them transaction fees for you to get the stimulus package could be a scammer. The government is rolling out the stimulus packages not to solicit funds from citizens in transactional fees. Therefore, be aware that any stimulus news with messages of transaction fees could be from scammers. 

The Omicron Covid virus is confirmed in every continent, with countries starting to close down again. However, sellers are worried that buyers would avoid shopping malls in fear of the new variant even without closures. There is a possibility for the rise of false stimulus news. Therefore, remaining alert will help you avoid falling prey to scammers. 

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