How To Protect Yourself From Coronavirus-Related Financial Scams

Since the pandemic began, thousands of Kansas and Missouri residents have lost more than $2 million to coronavirus scams. Fraudulent and phony text messages are a popular tactic for scammers to gain your personal information.

Avoid Scam Texts

They will send you a link in a text that contains a code or a link to a fake website to get your financial or personal information. Scammers will then take that data to use at a later time. 

Be on the lookout for any text messages you receive from an unfamiliar number or contact talking about a COVID-19 cure or testing. If you don’t know the source of the text message, do not respond. Follow this link if you want to lean more:  FCC.

ROBO Calls

Robocalls are also being used to capitalize on COVID-19 health fears, claiming there is an outbreak in the area or offering free testing supplies. Beware of any robocalls from someone saying they are with the World Health Organization or the U.S. Department of Health. 

The FCC has also received reports of scams tied to our finances, like work-from-home opportunities and debt consolidation services.

False Vaccines

People will call and say they have a cure for the virus if you send them your credit card data. Believe us, the CDC will let the entire nation know when we have a cure for the virus.


Who are these scammers targeting?

We are all at risk, but the majority of these fraudsters are overwhelmingly targeting older Americans. Older victims tend to be more isolated or could be suffering from conditions like dementia, making them more vulnerable.

Many of these scams are designed to target and defraud seniors by using the uncertainty of the coronavirus. Over the last few months, federal authorities have seen everything from Social Security benefit payments to pension funds being used to drum up fears and get access to personal information. 

Retirees, or those who are close to retirement, cannot afford to fall for these scams. They are usually on a fixed income, and the money they lose may not be able to be replaced. Falling victim to a scam can also set you back in your retirement plan.


How can you protect yourself from Coronavirus-related scams?

  1. Keep a close eye on your bank account balances. Make note of any unusual or unauthorized transactions, even if they are for a small amount. 
  2. Do not click links in any suspicious emails or text messages.
  3. Never share personal or financial information via email, text message or over the phone.
  4. If you believe you’ve been a victim of a coronavirus scam, contact law enforcement immediately.


For more resources follow this link:  FCC.