From socially-isolated seniors to distracted parents working from home, the coronavirus has exposed victims to scammers. Pandemic-related complaints to the Federal Trade Commission, the agency responsible for protecting U.S. consumers, started spiking in mid-March and remain high.

The AARP says that its fraud hotline is on track to field twice as many scam reports this year as last. And it's not just the 50-plus crowd or multitasking parents who are unwittingly wiring money, sharing personal information or investing in a con. Those under 40 are actually more likely than their elders to fall for schemes amid the pandemic, but they tend to lose less money and get less attention.

Here are some of the most common cons and some steps consumers can take to protect themselves:


Savvy criminals are taking advantage of health-related fear and recording automated messages that sound like they're coming from a state health department or other government agency. The messages mimic the approach of legitimate contact tracers, telling the person on the receiving end that he or she has been in contact with someone who's ill with COVID-19 and asking for personal information that a real contact tracer would never request, such as a Social Security number or health insurance ID. The best advice is to hang up, and to report the number to the FTC at

Relief-Program Theft

Bad actors are angling to get a piece of the government programs intended to help people cope with financial hardships. Identity thieves can steal unemployment benefits or exploit a small-business loan offering. The best site to report and recover from identity theft is the FTC's

People who receive stimulus payments via a debit card rather than through direct deposit should beware of scammers calling to get the card's information or saying there's a fee to activate it.

Likewise, small-business owners (and their staff) who applied for Paycheck Protection Program loans should be wary of anyone calling or emailing to say they're from a government organization and demanding a fee to access the loan or an identifying tax number. Remember, the Internal Revenue Service generally communicates by mail, not phone or email. Government websites end in .gov.

And here’s a protective trick for people who are still employed, just in case they lose their jobs: Set up a username and password at a state employment office website preemptively. If a scammer tries to open an account in the name of someone who’s already registered, it will set off alarms.

COVID-19 Investment Fraud

Some investors have been duped by companies claiming to offer a product that can detect, prevent or cure the coronavirus. For example, cold-callers sometimes recommend a medical- or drug-company stock and suggest that a victim buy it commission-free, then dump it once enough people pump up the price. Victims are easier to target than ever because a relief package approved by Congress in March lets people withdraw up to US$100,000 from their 401(k) retirement plans without paying the usual penalty.

Pump-and-dump scammers and others tend to demand immediate action, or the promise of a set return, something legitimate money managers don’t do. The best place to check a financial professional's credentials is on the Financial Industry Regulatory Authority's BrokerCheck or the Investment Adviser Public Disclosure website at the Securities and Exchange Commission.

Poisoned Meeting Links

Many employees working from home on their personal computers lack the security systems provided by employers. That makes it easier for scammers to trick people into clicking on faux meeting links as Zoom and other online meeting platforms replace conference rooms. Links can install malware for stealing passwords and other sensitive information embedded on home computers. The best protection is vigilance and common sense: Look before you click! The website can scan links and email attachments to see if there's anything suspicious about them.

Lonely-Hearts Schemes

Criminals have preyed on the lovelorn forever, and the pandemic just makes it easier. Regulators say that more and more schemers are striking up online romances with the lonely and homebound, then persuading them to part with their money. Alas, no consumer-protection website can dissuade someone from draining life savings in the name of love.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Alexis Leondis is a Bloomberg Opinion columnist covering personal finance. Previously, she wrote about personal finance, asset management and mortgages, and oversaw tax coverage for Bloomberg News.