Many people are still waiting for their stimulus check and in some states, still navigating the unemployment system as they continue to look for work. To compound the situation, the Federal Trade Commission (FTC) is warning of the latest phishing scheme where con artists are pretending to be government officials offering grant money from a fund that doesn't even exist.
Even in the midst of a pandemic, fraudsters aren’t slowing down and, because of COVID-19, many household budgets are stretched thin and cash flow is low. Scammers see this as an opportunity to prey on consumer’s emotions, making it easier to trick them into sharing personal or financial information.
Recently, people are stepping forward reporting to BBB's ScamTracker they've received an email, message through Instagram, or a text message from a friend stating they'll get money from a COVID-19 “Global Empowerment Fund” or other similiarly named fund. All the recipient is required to do is respond to the message with banking account information and the funds will be transferred to it. The messaging sounds legitimate because it claims to come from the Federal Trade Commission or another government agent.
However, the FTC warns there is no money and there is no fund of such kind. In fact, the FTC will not contact people by phone, email, tex message, or social media to ask for financial information, including Social Security numbers from anyone.
These are common phishing tactics to get these pieces of information. Do not respond to these messages and encourage friends or relatives to do the same. Instead, report it to the real FTC at ftc.gov/complaint.