Government Warns of Stimulus Scams

   

Posted: Mar 6, 2009

The Federal Trade Commission (FTC) is warning consumers to be on guard against scams involving the recent economic stimulus bill.

This week, the agency noted that some scam artists are claiming that they can help consumers get access to federal stimulus grants, for a fee. In many cases, however, these operations are a front for identity theft and outright theft from consumer credit accounts.

Some of the latest scams feature requests for bank account information so stimulus funds can be deposited into your account. Even consumers who don't actually provide bank information are at risk on these websites because the websites can download malicious software onto their computers without the consumer being aware of it, let alone consenting to it.

"Websites may advertise that they can help you get money from the stimulus fund. Many use deceptive names or images of President Obama and Vice President Biden to suggest they are legitimate. They're not. Don't fall for it. If you do, you'll get scammed," said Eileen Harrington of the FTC in a statement.

Consumers who have already been victimized are advised to pay close attention to their credit card statements for unauthorized charges, since some of the scams feature "negative option" payments that people may not know they were supposedly signing up for.