Government Grant Scams: Watch Out For Them!

There’s a new type of fraudulent telephone fraud currently sweeping parts of the nation. The con is known as a Government Grant scam. The scam itself is quite simple. You receive a phone call from someone claiming to be associated with the US Government. They inform you that you have been awarded a substantial government grant.  After they ask you to confirm your name and mailing address, the caller will then ask for the name of your bank, the routing number, and your personal account number so that they may withdraw a “processing fee” before you receive the grant money. There is of course no government grant. The person who called will more than likely wipe your account clean of your money and never be heard from again. Don’t fall victim to this scam!

There are many ways to spot this scam. Here are a few:

  • Beware of callers who claim that you have been awarded a government grant. Remember that people generally will not call to offer you money.
  • Never send any money to “verify,” “guarantee,” or “process” your alleged grant. If they request a fee, it’s a scam.
  • Never give anyone your personal finance information or SSN. If this information lands in a scammers hand’s not only can money be taken but your identity can be stolen as well.
  • Always request information in writing. If the grant is legitimate, the caller shouldn’t have a problem mailing you the information on it
  • Trust your instincts and remember that if an offer is too good to be true, it probably is.

If you’re the victim of this scam or someone has tried to scam you using this method then be sure to call the authorities immediately!

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