Published Date 3/20/2020
It’s everywhere. There is misinformation on how COVID19 is not any more serious than the flu and posts all over social media giving you minute-by-minute updates about the pandemic. But there are also hoaxes — those preying on the good intentions of others to make a buck.
MoneyTalksNews’ Miranda Marquit talks about the emergence of scammers trying to take advantage of the fear-mongering surrounding the crisis. First, there are no approved drugs or vaccines currently being used to treat the virus, so if you see an ad for something that claims to do so or run into a person saying they have one, run in the other direction. It’s only a ploy to sell some fake magic elixir, just as in the days of the Old West, except these people are slick, and don’t get around in a horse and wagon going from town to town.
The World Health Organization (WHO) is warning everyone that a phishing scam is underway involving online scammers pretending to be part of their organization. Scrutinize the email addresses of senders. Make sure the address following that @ symbol is official. For example, official WHO email addresses end with “@who.int.” Emails ending in anything else — such as “@who.com” or “@who.org” — are likely a scam. And above all, don’t click on the links. They are malicious and can download a virus onto your computer, or take you to a phony webpage designed to trick you into providing sensitive personal information.
“The Federal Trade Commission (FTC) suggests using your internet browser to go directly to the websites of official organizations like the WHO (www.who.int) and the Centers for Disease Control and Prevention (www.cdc.gov)) for coronavirus information.
Don’t give out your personal information, especially if someone contacts you and asks for it,” says Marquit. “Realize that there is a great deal of public safety information about this coronavirus, and you don’t need to provide your username or password to access this information.”
The only thing to invest in right now is your safety and that of your family. “Just as there are bogus claims of vaccines and medications that can stop COVID-19, there are also investment scams trying to convince you to part with your money,” says Marquit. “The SEC warns that fraudsters are circulating claims of companies on the verge of a breakthrough in developing prevention or treatment for COVID-19, encouraging you to invest in microcap stocks that are likely little more than ‘pump and dump’ schemes that could result in big losses for you.”
Scammers also take advantage of crowdfunding sites and the human desire to help others by donating to charities. Fake ones pop up looking for your money and take advantage of the fact that you are home, probably bored and feeling badly for people placed in impossible circumstances because of the pandemic, ready to click on anything.
“The FTC warns against making donations to charities that insist that you buy and send gift cards, wire money or give cash,” says Marquit. “And, again, you are urged to remain vigilant against crowdfunding campaigns that claim they have a vaccine or some other cure for the coronavirus disease.”
Marquit adds that whether it’s a scam claiming a limited number of available test kits or vaccines, or a phony investment report insisting you’ll miss a windfall, don’t give in to scare tactics. “If someone insists that you have to decide immediately, it’s probably a scam.”
Source: MoneyTalksNews
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