With the multiple stimulus checks paid out over the past year, consumers and businesses have had a fresh pile of money to flood the system with. In the coming months, scammers will likely have their eyes on it.
According to the Federal Trade Commission, more than 380,000 fraud complaints have been submitted since the pandemic started, with consumers reportedly being bilked out of nearly $366 million. The government agency said coronavirus-related scams peaked in the spring as fears of the virus first began to spread in the U.S.
With all this in mind, it’s an especially important time for consumers to be on the lookout for scams. Here are a few of the bigger ones to be aware of.
Stimulus or not, many Americans are still in financial straits. At the same time, the regulation of payday loans was rolled back earlier last year by the Consumer Financial Protection Bureau, which has made it easier for payday lenders to prey on the…