01/21/2021
COVID-19 Scammers Targeting Small Businesses
There's a new coronavirus-related scam targeting small businesses. It starts with an email that claims to come from the "Small Business Administration Office of Disaster Assistance." It says you're eligible for a loan of up to $250,000 and asks for personal information like birth date and Social Security number. Remember, it doesn't matter if it's the IRS, the Small Business Administration, or the Parker Police Department; we will never ask for personal information or money over the phone.
Phishing attempts aren't the only scam that business owners are reporting. The Federal Trade Commission (FTC.com) has heard from people who have applied for loans through websites pretending to be part of the SBA's Economic Injury Disaster Loan program. Other people were contacted to repay loans they never took out. The likely culprits? Criminals who illegally applied for loans in their name.
Here are steps you can take to help protect yourself.
Check your credit report. The worst time to learn that someone has taken out a loan in your name is when you're applying for a loan yourself. Check your credit report first at www.annualcreditreport.com, the authorized source for free reports consumers are guaranteed by law.
Look for reliable sources of information. Looking for a loan? Don't click on a link in an unsolicited email, and be careful with online search engine results. Scammers often bait their online traps with sound-alike names and URLs, phony endorsements, and professional-looking websites. Small business owners looking for COVID-relief programs start at www.sba.gov, the Small Business Administration's official site. Or reach out to a trusted financial institution in your community.
Check out lenders before sharing personal information. Scammers who impersonate lenders have the perfect excuse to ask you for lots of personal information to steal your identity. Don't leave a trail of personal information exposed by filling out lots of applications online with lenders you don't know. Investigate lenders first and if you spot something amiss, stop and file a
report at ReportFraud.ftc.gov.
Protect your community by reporting fraud, scams, and bad business practices