FTC Warns Small Businesses of COVID Scam

January 14, 2021

Small business are the targets of the latest email scam, the Federal Trade Commission (FTC) warned.

According to the FTC, fraudsters send an email that claims to come from the “Small Business Administration Office of Disaster Assistance.” It says you’re eligible for a loan of up to $250,000 and asks for personal information like birth date and Social Security number.

Here are some clues to know the email is fake:

  1. You got an email or phone call out of the blue that claims to be from the IRS, the Social Security Administration or—in this case—the Small Business Administration. The FTC has warned about government imposter scams like this.
  2. You were told that you’re automatically eligible for a loan. Real lenders never do this.
  3. You’re asked to provide date of birth and Social Security number. This is a tip-off that the sender is trying to steal your personal information.

Report fraud to the FTC here.

Contact ALTA at 202-296-3671 or [email protected].