Beware of Scam Efforts Tied to the Novel Coronavirus Outbreak

Beware of Scam Efforts Tied to the Novel Coronavirus Outbreak

As the novel coronavirus outbreak continues to dominate the media landscape, scammers are trying to make a lot of money. In fact, there are several types of scams related to COVID-19, according to the Federal Trade Commission.

Avoiding the Coronavirus Scams

It is evident that most of the daily news pertains to COVID-19. The situation is improving in China, yet most other countries have yet to deal with local outbreaks. In the Untied situation, the situation may appear to be under control, yet that narrative may change at any given moment. 

What is remarkable is how this situation attracts a lot of scammers. On the FTC website, numerous complaints have been registered in recent weeks. Criminals are trying to exploit consumers and corporations at every possible turn. They will even stoop as low as utilizing the novel coronavirus pandemic to their advantage.

Two key types of scams have been identified so far. It is very likely to assume that more types will become apparent in the future. If one method proves to become less successful, a new solution will pop up relatively quickly. For now, however, the scams can be divided into fake emails, and fake charitable events.

The Phony Email Scam

As the name somewhat suggests, criminals send out an email to consumers and corporations. In the email, they claim to represent a firm which has developed a novel coronavirus cure or treatment. By contacting others, these companies hope to receive “investments’” from people willing to contribute to the research and development. 

Multiple companies are working on a cure or treatment for COVID-19. They will never research out to people in search of additional funding. Instead, they will either fund the research themselves, or receive support from the government. Anyone contacting individuals or companies regarding such claims is likely to be a scammer. 

False Charities are a Problem

Many consumers are contributing to charities on a regular basis. During this novel coronavirus crisis, the donations are coming in even quicker. Not all charitable organizations can be trusted, nor are they all legitimate either. The FTC warns about the fake number of charities popping up as of late, primarily in the United States.

Donating to charity should always be encouraged. However, individuals and companies need to give money to legitimate projects only. Never contribute to unknown organizations, as that will often lead to money being stolen. Keeping a watchful eye on the “charities” making some noise during this COVID-19 outbreak is always the best approach.