Consumer losses due to Covid-related fraud top $500 million

Consumer losses due to Covid-related fraud top $500 million  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, JUL 28, 2021 YOUR WEALTH Editor's Note Scammers continue to use a variety of methods to exploit the Covid-19 pandemic. The Department of Justice urges consumers to stay alert and stay informed about common fraud schemes related to the pandemic. The agency makes this warning for good reason. Consumer losses due to Covid-related fraud have topped $500 million, as these scammers rip off the unwary in a variety of schemes ranging from online shopping to travel, as reported by CNBC's Greg Iacurci. "Scammers always take advantage of disasters, manmade or natural," said Susan Grant, director of consumer protection and privacy at the Consumer Federation of America. Criminals have used many methods to steal money from unsuspecting Americans, including fraud related to online shopping, travel and government stimulus funds during the pandemic, according to federal data. So, while these warnings may seem obvious to some, they apparently bear repeating: The Justice Department urges consumers to be on the lookout for Covid-19 vaccine fraud schemes. Never share your personal or health information to anyone other than known and trusted medical professionals. Be cautious of unsolicited health-care fraud schemes of testing and treatment through e-mails, phone calls or in person. Also, be wary of unsolicited telephone calls and e-mails from individuals claiming to be IRS and Treasury employees. The IRS' first form of communications is by regular mail, not by phone. Also, be aware of unemployment insurance fraud. If you think you are a victim of a scam or an attempted fraud involving Covid-19, you are urged to call the Department of Justice's National Center for Disaster Fraud hotline: 866-720-5721. Hotline staff will obtain information regarding your complaint, which will then be reviewed by law enforcement officials. For more cool stuff like this, please follow me on Twitter @jimpavia and check out CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow. Jim Pavia @JIMPAVIA Consumer losses due to Covid-related fraud top $500 million Consumers have reported losing more than $500 million to Covid-related fraud since the beginning of 2020, according to the Federal Trade Commission. Facing a retirement shortfall? What to know before adding cryptocurrency to your portfolio Older Americans with a savings shortfall may be eyeing riskier assets to boost returns. Experts cover what to know before adding cryptocurrency to a portfolio. Investors are worried about inflation. How bonds can help As investors look for ways to hedge against rising prices, bonds can play an important role in their portfolio. Many states are holding lotteries with cash or other prizes to boost vaccination rates. Here's how much winners could owe in taxes Whether cash or another type of prize, the IRS expects winners of any lottery to pay taxes on the value of their jackpots. No health insurance? There's still time to sign up for subsidized private coverage during special enrollment window About 3 out of 5 eligible uninsured Americans should be able to access zero-premium plans, according to the Centers for Medicare & Medicaid Services. Why wealthy investors remain bullish on market and tech stocks in particular Tech stocks took a hit early this year and again on the big earnings week for Apple, Microsoft, Alphabet and Facebook, but wealthy investors see opportunity. More than half of adults have unused gift cards. Here's how to make sure you don't lose that money There's about $15 billion in unused gift cards and other vouchers outstanding. That represents an average of about $116 per person. Opting out of monthly child tax credit payments may make sense for some families For certain families, it makes sense to opt out of the advanced monthly child tax credit payments that began in July. Housing boom is over as new home sales fall to pandemic low After a year of frenzied buying and price gains in the double digits, newly built homes are now out of reach for much of the demand that remains in the market. Tuition insurance may help cover costs if a student withdraws from college The possibility of more campus closures has sparked renewed interest in college refund policies and tuition insurance. CONTRIBUTORS Sharon Epperson @sharon_epperson Josh Brown @ReformedBroker Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS

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