03 Apr

IRS warns of economic impact payment scams

Navigator Credit Union is committed to helping you protect your privacy. As the COVID-19 pandemic takes a toll on people’s pocketbooks, your finances could face other threats as well.

Experts are warning of a rise in scams. You’re advised to be on the lookout for an increase in calls and email phishing attempts. That’s not all. Tech savvy fraudsters may also use text messages, websites and social media to request money or get your personal information.

The Internal Revenue Service says scammers may:

  • Emphasize the words “Stimulus Check” or “Stimulus Payment.” The official term is economic impact payment.
  • Ask you to sign over their economic impact payment check to them.
  • Ask by phone, email, text or social media for verification of personal and/or banking information saying the information is needed to receive or speed up your economic impact payment.
  • Suggest they can work on your behalf to get a tax refund or economic impact payment faster. This scam may be conducted by social media but it could even be done in person.
  • Mail you a bogus check, perhaps in an odd amount, and then tell you to call a number or verify information online in order to cash it.

Navigator wants to remind Members it is extremely important you do not provide personal or financial information, including social security number or bank account information, to an unknown source. If you think you’ve been contacted by a scammer, you’re encouraged to report it to the Federal Trade Commission.