The Federal Trade Commission (FTC) has logged over 137,000 complaints related to COVID-19 and stimulus payments, with over half of them being fraud or identity theft related. Victims have reported over $89.5 million in loss from fraud. With the coronavirus having such a huge effect on all parts of our life, it has created another category of scams. COVID-19 scams have become the new face of financial fraud across the US.

The newest installment of Wallet Watch is all about those coronavirus scams. Whether it’s fraudulent charities, fake at-home test kits and vaccines, or entities promising your business faster processing for PPP loans, we’ve got you covered.  This is the first episode of Season 4. The Wallet Watch team has some great content for this season with topics about leasing and buying, renting and owning, job benefits and more.

Do you want transcripts for any of our episodes? Email us a request at [email protected] Transcripts offer an excellent way to have a copy of the tips and topics we cover in each episode.

Also, we have a contest! All you have to do is comment under one of our podcast-related posts. Be sure to tag a friend and include the title of this episode, “Scams to Avoid Part 2”.

Spotify: App and Web Player

Apple Podcast: App and iTunes

Podbean: App and Website

https://public.tableau.com/profile/federal.trade.commission#!/vizhome/COVID-19andStimulusReports/Map

https://www.ftc.gov/
 

Chances of winning are based on the number of entries during the contest time period. Only one entry per participant, per episode will be accepted. MSU Federal Credit Union and OU Credit Union employees, board of directors, and their families are not eligible to win.

You may also enter by sending a 3-inch by 5-inch card with your first and last name, address, phone number, and email address to: MSU Federal Credit Union ATTN: Financial Education Department: Wallet Watch Contest Episode “Scams to Avoid Part 2” 3777 West Road, East Lansing, MI 48823.

This contest runs from August 5, 2020, through December 23, 2020. The winner will be drawn on December 28, 2020, by the Financial Education department of MSU Federal Credit Union, whose decisions are final. The winner of the gift card must agree to sign a release form allowing MSU Federal Credit Union to use their name for promotional purposes for Financial 4.0 and any future MSUFCU promotional materials.

MSUFCU is not responsible for any damage caused to entrants' mobile device due to participation in the contest. MSUFCU reserves the right to cancel the online component of the contest should it become technically corrupted, and the winner will be chosen from all eligible entries received prior to that time.

Winner understands that prizes may not be substituted or assigned.

Entrants agree by entering that unless prohibited by law, MSU Federal Credit Union may use, if entrant is a winner, entrant's name, city and state of residence, photograph, and likeness for advertising trade and any other purposes in any media now or hereafter known without further compensation, permission, or notification. Entrants further agree that the aforementioned parties and all of their respective officers, directors, shareholders, employees, representatives, and agents will have no liability and will be held harmless by entrant for any claim, action, liability, loss, injury, or damage to entrant or any other person or entity, including, without limitation, personal injury or death to entrant or any other person or damage to personal or real property, due in whole or in part. MSUFCU maintains the right to change or modify these rules at any time without notice.