Economic Impact Payment Scam Alert

Scamming Alert: How Fraudsters Are Grabbing Economic Impact Payments (EIPs) From Consumers.


As billions of dollars are being transferred from the Federal government to millions of consumers, scammers, fraudsters and hackers are on the loose which means you need to be vigilant and overly protective of your money. This is particularly true with your Economic Impact Payment funds as that money will be coming to you over the course of the next several weeks. Here’s what your IncredibleBank suggests you do to prevent this fraudulent behavior.

First, know that the IRS and its Criminal Investigation Division are reporting a wave of new and evolving phishing schemes (scammers who send emails with links to steal personal information that look like they come from legitimate sources) related to COVID-19. Be aware of the tactics fraudsters may deploy, such as:

  • Emphasizing the words "Stimulus Check" or "Stimulus Payment." The official term the IRS is using is, Economic Impact Payment.
  • Asking you to sign over your economic impact payment check to them.
  • Asking by phone, email, text or social media for verification of personal and/or banking information saying that the information is needed to receive or facilitate your economic impact payment.
  • Suggesting that you can get a tax refund or economic impact payment faster by allowing them to work on your behalf. This scam could be conducted by social media or even in person.
  • Mailing you a bogus check, perhaps in an odd amount.
Be very mindful of these types of criminal behaviors, and be certain to share this information with your family, friends and business associates. IncredibleBank wants everyone to be safe and healthy during this crisis and that includes the safety of your finances, too.