Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

By Julia Glum
March 10, 2020
Science Photo Library / Getty

In a matter of weeks, the coronavirus outbreak has roiled global markets, canceled major events and inspired a run on hand sanitizer.

Now, it could be helping fraudsters steal your money.

Several state and federal government offices have issued alerts warning the public about scammers looking to capitalize on coronavirus fears. From websites peddling fake cures to messages claiming to be from the Centers for Disease Control and Prevention, the scams come in various forms but pose a big threat to panicked consumers.

“There already is a high level of anxiety over the potential spread of coronavirus,” Federal Trade Commission Chairman Joe Simons said in a news release. “What we don’t need in this situation are companies preying on consumers by promoting products with fraudulent prevention and treatment claims.”

Ads by Ad Practitioners
Start Protecting Your Personal Information with Identity Theft Protection
If you believe that you've fallen victim of identity theft, the most important thing to do is to limit the damage.
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas
Start Now
ADVERTISEMENT

Examples of coronavirus scams include:

  • emails claiming to be from the CDC or World Health Organization with attachments purporting to contain information about the coronavirus (they don’t — these are phishing emails)
  • offers for coronavirus treatments, including vaccinations and cures (there are none)
  • requests for donations to charity or crowdfunding campaigns supporting coronavirus victims (WHO does not ask directly for donations)
  • promotions suggesting certain companies’ stock are about to rise in value because they can detect or stop the coronavirus (these may be pump-and-dump schemes, and investors could lose money)
  • messages allegedly from human resources departments that link out to a list of affected regions if the recipient logs in (they’re actually stealing passwords)
  • emails asking people to download programs to help speed up the process of finding a coronavirus cure (these then install malware)
  • robocalls informing patients that they’ve tested positive for the coronavirus (hospitals generally don’t share serious test results via robocall)
  • social media posts suggesting that avoiding cold foods like ice cream can prevent the coronavirus (it doesn’t)

Though officials are cracking down on these scammers and others, there are steps you can take to protect yourself — and your wallet — from coronavirus cons.

To stay safe, the FTC recommends you don’t click on links from people you don’t know, check your antivirus software and thoroughly research any requests for donations. The Securities and Exchange Commission says to be careful when presented with coronavirus-linked investment opportunities. And finally, the Better Business Bureau reminds you to be skeptical of miracle cures. Ask your doctor if in doubt.

Ads by Ad Practitioners

Enter Your Zip Code to Protect Yourself from Identity Theft

ADVERTISEMENT

More from Money:

Every Major Airline’s Coronavirus Change and Cancellation Policy

Coronavirus and Travel Insurance: Everything You Need to Know

The Coronavirus Outbreak is Exactly Why Companies Need Pandemic Policies

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST