US Treasury Warns of Coronavirus Stimulus Check Scam

Many Americans are awaiting their stimulus check from the US Treasury Department, and scammers are already taking advantage. What do Americans need to know about their upcoming funds?

- Advertisement -
  • Scammers are requesting a deposit to speed up the stimulus process.
  • The US Treasury is asking any victims of this scam to report it immediately.

With the damages that have occurred to the economy and to individuals through the COVID-19 pandemic, there are many households now financially suffering. Through these struggles, the federal government passed the Coronavirus Aid, Relief and Economic Securities (CARES) Act. The CARES Act helps to ease the financial stress that these consumers have from losing their jobs, stocking up on household goods, and more.

TAX REFUND DELAYS
AP Images here

The CARES Act states that the majority of taxpayers will receive $1,200 per individual ($2,400 per couple and $500 per qualifying child). The goal is to provide supplemental income for the lost finances in a one-time stimulus check. While the checks are planned to go out in the next few weeks, it didn’t take long for scammers to go after vulnerable citizens during this trying time.

According to the United States Treasury, there have already been many reports by Americans who have received phone calls, texts, and email to request financial information that is allegedly being used to expediate payments. However, officials state that all of these requests are no more than a recipe for a scam.

In a statement, the U.S. Treasury Department said, “If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal finance information, or an advance fee, or charge of any kind, including the purchase of gift cards, please do not respond. These are scams.”

Individuals that have already filed their 2018 and/or 2019 tax return have already provided the department with everything that they need to send out the checks or directly deposit the funds into their bank accounts. Anyone that still needs to submit their information to the Treasury Department can do so through the upcoming web-based portal that the department is setting up.

When in doubt, protect your personal information, and remember that the government will never require a deposit to receive funds faster. Individuals that believe that they’ve been scammed or have been the victim of one of these fraudulent messages should report it to the Treasury Inspector General for Tax Administration.

To avoid scams, be sure to check out the top blockchain stocks, 5G stocks, and the Investment of the Decade here.

- Ad -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
- Advertisement -

The Investment of the Decade by Teeka Tiwari: What Is It?

Teeka Tiwari's Investment of the Decade is a new special broadcast of his highly popularly, wildly successful Palm Beach Letter newsletter research program. While there...

Top 11 Best Financial Investment Email Newsletters of 2020

Financial investment newsletters provide stock tips and analysis. A good financial investment newsletter helps you understand the market. It alerts you to upcoming trends before...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Best Blockchain Stocks: Top Blockchain Companies for Investors in 2020

Ten years ago, no one had heard of “blockchain”. Over the last five years, however, blockchain has been one of the biggest trends in...

Latest News & Updates

Dave Forest’s Strategic Investor: Lithium Geo-Tech Fuel Tesla Deal Report

With the coronavirus pandemic currently ravaging the global economy mercilessly, more and more people are looking to make smarter investment choices so that they...

Project 303: The Extra Income Project by Andrew Keene

The Great Recession in 2008 cast a dark shadow over the financial portfolios of the whole country. With few people left untouched, it took...

True Wealth Real Estate by Dr. Steve Sjuggerud: Newest Breakthrough Service

In a recent presentation, Dr. Sjuggerud unveiled his plans for a new project poised to help investors get hold of assets with profit-generating potential....

EtherChain: Smart Contract Ponzi Scheme Running on Ethereum Blockchain

Looking closely at EtherChain, it can easily be seen that this system is nothing short of an MLM Ponzi scheme, that runs on the...

Every investment is risky and carries a real chance at losing or gaining. None of the information here is to be considered investment advice. Seek a professional investment advisor consultation before making any investment.

No GainBitcoin contributor is licensed under securities laws and is not qualified to give personal investment advice. Read the about page and all accompanying policies for more details.

More Articles Like This

Best Blockchain Stocks: Top Blockchain Companies for Investors in 2020

Ten years ago, no one had heard of “blockchain”. Over the last five years, however, blockchain has been one of the biggest trends in...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Teeka Tiwari's The Final 5: 5 Coins to $5 Million Jetinar Details

Teeka Tiwari's The Final 5: 5 Coins to $5 Million Jetinar Palm Beach Research Group's Teeka Tiwari is hosting his 5 Coins to $5 Million:...

The Investment of the Decade by Teeka Tiwari: What Is It?

Teeka Tiwari's Investment of the Decade is a new special broadcast of his highly popularly, wildly successful Palm Beach Letter newsletter research program. While there...

Great American Reset (2020): Jim Rickards, Robert Kiyosaki's Strategic Intelligence for The New Case for Gold

Two financial gurus, Jim Rickards and Robert Kiyosaki, recently attended a virtual event, called, “The Great American Reset of 2020,” hosted by Pete Coyne....

Timed Stocks: Accelerated by Jeff Brown: Latest Intel Shared

Looking to make money off of investments? Not sure where to begin? To pinpoint where the money lies, investor Jeff Brown put together an...