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Beware of COVID-19 Related Scams

Published in Articles on March 30, 2020

It has come to our attention that there are a number of new scams regarding stimulus payment processing and phishing campaigns that are using COVID-19 as a lure. Here are some tips to help you avoid being the victim of such scams:

  • Be alert for phone scams. The Internal Revenue Service (IRS), Treasury Department, or any other government agency will not contact you by phone ever. Calls to collect information for stimulus payment processing are scams, hang up.
  • Be alert for phishing scams. Government agencies will not email or text you to collect information for stimulus payment processing. Watch for suspicious emails or texts with links or attachments requesting information for processing stimulus deposits or checks. If you receive one, do not click the link or open the attachment. It’s a scam. Delete it.
  • Be alert for state-related scams. State agencies will also not call, email or text you to collect information or a fee to process a stimulus payment. To date, no state has introduced their own version of a stimulus payment.
  • Don’t click on links or attachments from sources you don’t know. Doing so could download a virus onto your computer or device. Make sure the anti-malware and anti-virus software on your computer is up to date.
  • Verify information at the source. If you get an email requesting that you verify your account information, go directly to that company’s website to log in and complete the requested action. Do not click on links within the email to log into your account.
  • Contact Onyx Financial if you are unsure. As part of our 360° Wealth Management, we are here to help our clients with any financial question or problem they encounter. If you receive a suspicious call or email and don’t know what to do, give us a call and we will help you determine what, if any action, needs to be taken.

If you got a phishing email, forward it to the Anti-Phishing Working Group at reportphishing@apwg.org. If you got a phishing text message, forward it to SPAM (7726). Report the phishing attack to the FTC at ftc.gov/complaint. The information you give can help fight the scammers.

The articles provided on this page are intended to be educational and informational only. The content describes our firm’s and our professionals’ recommendations or opinions as of a specific prior date. Due to various factors, including changing market conditions, that information may no longer be reflective of current opinions or recommendations. While information presented is believed to be factual and up to date, Onyx Financial Advisors, LLC does not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No reader should assume that the publication of any of this material serves as the receipt of, or a substitute for, personalized advice from Onyx Financial Advisors, LLC or from any other investment professional. Readers should not use this content as the sole basis for any investment, financial planning, tax, legal or other decisions. Rather, a professional adviser should be consulted, and independent due diligence should be conducted before implementing any of the options referenced herein. Onyx Financial Advisors, LLC is neither a law firm nor an accounting firm. The tax and estate planning information provided is general in nature. It is provided for informational purposes only and should not be construed as legal or tax advice. Readers, clients, and prospective clients should consult an attorney or tax professional regarding their specific legal or tax situation.