Lost your job due to the pandemic or looking for a side hustle through a work-at-home job? Be careful where you click. The increase in work-at-home jobs is a perfect fit for an Internet scammer, reports Kathy Kristof on the SideHusl blog.
“Crooks hide in the crowd, making their offers appear so similar to real ones that it’s hard to tell the difference,” says Kristof.
According to the Federal Trade Commission, job scams have cost U.S. residents at least $150 million in the first nine months of 2020. I say “at least” because who knows how many people who were victimized bothered to file an FTC complaint, or who didn’t know they could?
Here’s what the thieves want:
- Personal information, such as a Social Security number
- Passwords to accounts
- Access to your computer (for example, the crook might send you a link to fill out an application – but it’s a spoofed site that will infect your computer with malware)
- For you to cash a personal check or write them a personal check
To be clear: There are loads of legitimate work-at-home jobs out there. But you need to be cautious about any offer, even if you think it’s legit. Kristof’s article can help.
In addition, the Internal Revenue Service reports a new text scam: Messages saying, “You have received a direct deposit of $1,200 from COVID-19 TREAS FUND. Further action is required to accept this payment into your account. Continue here to accept this payment …”
As Admiral Ackbar would say: It’s a trap!
If you were to click on the link – and don’t do that! – you would be redirected to a fake site that wants your banking information.
“The IRS doesn’t send unsolicited texts or emails,” reads a press release on this latest scam.
Never. Ever. This does not happen. Do not click on the link!
And one more recurring theme, for the folks in the back: “The agency will never demand immediate payment using a gift card, prepaid debit card or wire transfer or threaten to have a taxpayer arrested.”
Forewarned is forearmed. Don’t give a scammer your money.
Two things you can win
I’m giving away a $25 gift card – winner’s choice. This is a short-term giveaway, ending at 7 p.m. PST Thursday, Dec. 24.
The Budget Savvy Bride still has that $100 Amazon gift card up for grabs. You have until Dec. 31 to enter.
COVID and life insurance
Weirdly, the pandemic is making it easier to get life insurance from some companies. According to NerdWallet columnist Liz Weston, insurance companies are increasingly either waiving the physical exam or substituting exam and lab data that you authorize your physician to share.
The pandemic has also made people think more about mortality. Studies from NerdWallet and an insurance industry group called LIMRA show that:
- One in four U.S. residents bought insurance or increased current coverage due to COVID, and
- Almost six in 10 people report a “heightened awareness” about life insurance, and about one-third who were looking to buy said the pandemic made them do it.
However, we still tend to underestimate how much we need and overestimate how much it will cost. Your personal situation determines how much you need; for example, if you have young kids you’ll want a lot more. And insurance can be cheaper than you might think: LIMRA says a 30-year-old woman in excellent health might pay less than $200 per year for $500,000 worth of coverage, and a 40-year-old man in excellent health might pay less than $350 for that level of insurance.
Don’t think that the life insurance you get for free at work is going to be enough. Typically this tops out at less than $50,000 or maybe even one to two times your annual salary. Plus there’s the whole, “lose your job – lose your insurance” thing.
Weston’s article tells more.
If you don’t have insurance please don’t put off shopping for it. And if you’re a working parent aged 42 or under who earns less than $40,000 a year, you may qualify for $50,000 worth of free life insurance from Mass Mutual’s Lifebridge program. This is not a scam. Honest.
To see if you qualify, visit the Lifebridge home page; please share this link with anyone you know who might be able to qualify.
Readers: Got life insurance? Also: Seen any good scams lately?
I received an email from what looked like a legitimate Amazon site, telling me that the merchandise I ordered (over a thousand dollars) was on its way. I did have an account with them, and I assuredly did not order anything remotely worth that amount of money. I called the number on the email and the person who answered (with a thick foreign accent) said he was sorry, and if I gave him my information including my credit card number, he would make the necessary cancellations. I hung up and googled the Amazon customer service number which I then called. Of course, it was a scam. All the crooks wanted was my card number. I was advised to call Visa just in case. My account was not hacked, and all was well.
Another trick used is locking up your computer and told to call this certain number for help. Don’t fall for it. One of my friends did and everything she had on her computer was hacked including bank accounts. Simply hit control alt delete keys and ignore it.
My kids are fine. They are successful and do not need any money from me. Instead of life, I bought nursing home insurance and prepaid my funeral. I never wanted to be a burden to any one, even in death!
I hope the punishments fit the crime on these scammers when they are in fact caught. It’s crazy how prevalent this kind of thing is. As a single guy in his 30s with no kids, I have whatever life insurance my work provides, but don’t see a need for any further coverage at the moment.
One reason to get even a basic policy when you’re young is that it’s much cheaper and you can lock in the price for 10, 20 or even 30 years. Who knows: You might find the love of your life next week, and then that person is covered later on if something happens to you (able to pay off a shared house, etc.).
Another reason: It helps whoever would be charged with taking care of your affairs if that bus did hit you. For example, paying off and then selling a car, real estate or whatever. Some people make their parents the beneficiaries; others leave it to a niece, nephew or trusted friend.
And yes on the scammers: They should suffer. Except that I think many of them are overseas and won’t be caught. Sigh.