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Economic stimulus bill Source: Shutterstock.

As proceeds from the U.S. CARES Act begin to hit the nation’s pocketbooks and bank accounts, credit unions are strategizing how to help members manage their newfound cash. Fraudsters, on the other hand, are strategizing how best to steal it.

Millions of Americans are slated to receive $1,200 checks, while U.S. business owners are expected to obtain forgivable loans ranging anywhere from a few thousand to $10 million. With amounts like that, it’s no wonder scammers are seeing green. Add COVID-19 fears and economic uncertainty to the unprecedented volume of stimulus money, and you have an ideal environment for con artists who thrive on chaos.

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