Rogues will try to get hold of payments of third stimulus checks, says government – Community News
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Rogues will try to get hold of payments of third stimulus checks, says government

The government and a cybersecurity expert warn of new incentive payments scams.

The Financial Crimes Enforcement Network (FinCEN), part of the US Treasury Department that fights financial crimes, in a recent advisory identified some of the most common economic impact fraud (EIP) frauds.

The stimulus payments are the third and largest to date of the corona aid packages of the past 12 months.

The government and a cybersecurity expert warn of new incentive payments scams.

The government and a cybersecurity expert warn of new incentive payments scams.

THE YOUNGEST, OLDEST ARE THE MOST VULNERABLE TO SCAMS: NOTIFICATION

Fraudulent Checks: Fraudsters send fraudulent checks with instructions to call a number or verify information online. Then the bad guys ask for personal or banking information “under the guise that the information is necessary to receive or accelerate their EIP,” according to FinCEN’s consultancy. The information is then used to commit crimes such as identity theft and unauthorized access to bank accounts.

Theft of payment: these thefts could include stealing an EIP from the U.S. Post or requesting payment for an ineligible person or soliciting payment from another person without the beneficiary’s knowledge, according to FinCEN.

Wrongful seizure of payments: A private company that monitors a person’s finances seizes one’s EIP and does not return the seized payments.

phishing: Fraudsters engage in phishing – seemingly authentic communications from banks and other trusted entities – using emails, letters, phone calls and text messages using keywords such as “COVID-19” and “Stimulus.” Its purpose is to obtain sensitive personal and financial account information such as account numbers and passwords.

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“We’ve seen these attacks before,” Evan Reiser, CEO of cybersecurity firm Abnormal Security, told Fox News, referring to phishing attacks.

“When the first incentive payments were released in April 2020, scammers launched a phishing campaign masquerading as the IRS, claiming that stimulus checks would be withheld unless the recipient updated their address information,” Reiser said.

Victims were redirected to a fake IRS login page that asked for credentials to update the requested information and receive a check.

“Those who fell victim to the attack essentially gave away their usernames and passwords, allowing attackers to steal the stimulus control and/or inflict additional financial damage,” Reiser said.

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According to Reiser, the schemes target the most vulnerable Americans who have been laid off or have reduced hours.

Some of the most widespread scams are so-called “out of domain impersonation” techniques in which scammers run fraudulent websites that appear legitimate.

Minor tweaks to domain names, such as adding an “s” to the end of a domain name, make them appear legitimate.