Fraud and Coronavirus (COVID-19)
The warning bells are ringing. From regulators, law enforcement agencies, and consumer organizations around the globe, the message is clear: fraudulent schemes related to the coronavirus (COVID-19) pandemic have arrived, and they are coming in many forms, from investment fraud to fake CDC emails to phishing scams. And unfortunately, efforts to stop the spread of the virus may put investors in a precarious position when it comes to avoiding fraud.
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Job loss, financial strain and social distancing are conditions that present fraudsters with an opportunity to pounce. A study by the FINRA Investor Education Foundation, the BBB Institute for Marketplace Trust, Stanford Center on Longevity and Federal Trade Commission found that key risk factors for susceptibility to scams and losing money are social or physical isolation from others, active online engagement, and financial vulnerability.
Source Fool.com
