Mar 12, 2020 2 min read

The coronavirus outbreak has prompted the state Department of Banking and Securities to advise Pennsylvanians to beware of possible financial scams.

“Scams are becoming increasingly more sophisticated and scam artists are taking advantage of people, making every attempt to separate you from your hard-earned money,” acting Secretary Richard Vague said.

Consumers should not share financial or other sensitive information with anyone who contacts them unsolicited.

The department listed common characteristics of scams:

• Sense of urgency and limited time offers, in an effort to get you to act immediately and catch you off guard. No government agency will call, asking for payment or promising to take punitive action if you don’t act quickly.
• Payment with wire transfer or gift cards. Once information is provided, the money is essentially gone and you cannot get it back.
• Secrecy and the need to not tell anyone. Never make a decision without consulting a credible and trustworthy source.
• Low or minimal risks with guaranteed high returns.
• Unsolicited offers, including social media avenues: a new post on your Facebook wall, a tweet mentioning you, a direct message, an email, a text, a phone call, or any other unsolicited communication.