AG Ford warns of economic impact payment scams

Nevada Attorney General Aaron Ford is warning residents to be alert for scammers looking to steal personal or financial information in connection with the government’s economic impact payments under the CARES Act.

Payments have already begun to be distributed to individuals who qualify for the payments, also referred to as stimulus checks.

“Fraudsters see a new opportunity to use old tricks to scam individuals and small businesses out of their hard-earned money,” Ford said. “Be careful before sharing any personal or account information with anyone you do not know.”

The Attorney General’s Bureau of Consumer Protection offered tips for avoiding scams related to the economic impact payments.

The Internal Revenue Service will not contact you by phone, email, text message or social media with information about your individual stimulus payment. The IRS also will not reach out to you to ask for information such as your Social Security number, bank account or government benefits information. No fees are required to get a payment, and paying a fee will not expedite delivery of a check.

The IRS will not instruct you to deposit your stimulus check and then send the money back because they sent you more than what is owed.

The government and various nonprofits have been offering a number of financial resources for small business owners, and Ford said they also should be alert for scams related to these assistance programs.

The Small Business Administration will not initiate contact regarding loans. Business owners should be wary of anyone requiring payment up front or offering a high-interest bridge loan while awaiting an SBA loan. Business owners should ensure that any communications asking for personal identifying information has the correct application number.

Because the SBA limits the fees a broker can charge a borrower to 3% for loans $50,000 or less and 2% for loans $50,000 to $1 million, with an additional one-quarter percent on amounts more than $1 million, the Bureau of Consumer Protection reminds business owners that any attempt to charge more is not appropriate.

If any information appears questionable, it can be confirmed on the SBA website, and any organization or company making a grant offer should be researched carefully before any agreements are reached.

Anyone who has been victimized by a crime related to the COVID-19 pandemic should file a complaint with the attorney general’s office and the National Center for Disaster hotline at 866-720-5721 or by emailing the NCFD at diaster@leo.gov