As the nation continues to respond to the coronavirus, the Department of Banking and Securities (DoBS) is urging Pennsylvanians to be wary of potential financial scams trying to take advantage of the situation. Consumers should be vigilant about protecting their finances and should not share financial or other sensitive information with anyone contacting them unsolicited.
Frequent characteristics of scams include a sense of urgency and limited-time offers, payment with wire transfer or gift cards, secrecy and the need to not tell anyone, low or minimal risks with guaranteed high returns, and unsolicited offers (including social media avenues).
Pennsylvanians can protect themselves by actively exercising caution. If one has received an unsolicited phone call, when in doubt, he or she should hang up. People should never provide credit card or other financial or personal information as part of an unsolicited phone call and think twice if being being pressured to act now.
DoBS has had no reported cases of coronavirus (COVID-19) financial scams. Anyone can contact DoBS at 800-PA-BANKS or 800-722-2657 to ask questions or file complaints about financial transactions, companies, or products. Those who believe they have fallen victim to a scam are asked to contact local law enforcement.
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