CARES Act triggers online and telephone scams

Please be aware of the increase in scams related to the CARES Act Programs. The Small Business Administration, Internal Revenue Service and U.S. Department of the Treasury will NOT CONTACT ANYONE DIRECTLY related to the various relief programs. In addition, bank employees will never ask for your social security number or other sensitive information via phone or email. Please note that any promises to expedite receipt of payment or increase the payment amount from the government for a fee are fraudulent.

Additionally, a number of private loan companies are using CARES Act program draw essentially as online lead generators to collect private financial information for their more expensive private lending programs. Clients using our firm to handle applications should allow all communications to go through official channels. Do not call to give a bank or SBA information on your own.

Scammers know that they can count of people ‘letting their guard down’ when dealing with these new and unfamiliar programs. Additionally, the motivation of being able to get money faster is a lure easily exploited by scammers. Keep vigilant, be skeptical, and take extra precautions. If you have any doubt about the legitimacy of any communication or offer, I am happy to discuss it before you take any action. Send a message here or call 856-265-0306.


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