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PSA, Be Careful of Scams

Posted:

Good Morning All,


I just wanted to send out a note to you in these unprecedented times. As fellow Illinois Realtors, we’re all in this together and we’ll all come out of this stronger when our country heals. Hopefully we can work together on a future deal when things ramp up later this year. With that said, I wanted to take this time to send out a little PSA on the many scams going on right now with regard to the economic stimulus.

The US Treasury & IRS have begun automatic distribution of the “Economic Impact Payments” to those of you who have qualified, no action is required to receive this money. The first batch of payments started hitting accounts last week with millions more to come.

To learn more about these Economic Impact Payments you can visit the IRS website for INFO or use the GET MY PAYMENT feature which is now live to keep tabs on your payment and help speed up delivery.

Unfortunately when a lot of money is involved, it also has a tendency to bring out those opportunistic and creative scammers who deceit their way into getting your money.

Proactive Measures or Ways to Spot a Potential Scam:
  • Be cautious of any phone call, text, email, or even social media request asking for money or other personal information in exchange for “receiving your payment more quickly”.
  • Phrases such as “stimulus check” or “stimulus payment” could be a red flag as the official term is “Economic Impact Payment”.
  • NEVER send money (often as a deposit, advance, or processing fee) with the notion you’ll get additional money. This is a sign of a scam.
  • NEVER give your personal, financial, or bank account information over the phone.
  • Watch out for “Bogus Checks” being mailed and asked to call or verify information online in order to cash it.

What Should You Do If You Suspect Fraud or a Scam?
  • Report the scam immediately to the FTC by completing this FORM.
I understand that some of this goes without saying, but it’s important that we protect ourselves during a time of vulnerability.  Please consider this a friendly reminder as we continue to navigate these unfamiliar roads together.
Thank you all and please be well.
Brad Sowell
Designated Managing Broker, Partner, REALTOR®
Northwest Suburban Real Estate
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