To help you manage through these challenging times, we’re watching out for your financial health. Scammers are already trying to take advantage of people’s fears by selling misleading products and spreading misinformation.

Check out these notes from the Federal Trade Commission (FTC) and recommendations for how to avoid getting caught up in the hype:

The FTC and FDA have jointly issued warning letters to seven sellers of unapproved and misbranded products, claiming they can treat or prevent the coronavirus. The companies’ products include teas, essential oils, and colloidal silver.

The FTC says the companies have no evidence to back up their claims — as required by law. The FDA says there are no approved vaccines, drugs or investigational products currently available to treat or prevent the virus. Read more about the warning letters.

 

Avoid Coronavirus Scams

Here are some tips to help you keep the scammers at bay:

  • Don’t click on links from sources you don’t know. They could download viruses onto your computer or device.
  • Watch for emails claiming to be from the Centers for Disease Control and Prevention (CDC) or experts saying that have information about the virus. For the most up-to-date information about the coronavirus, visit the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).
  • Ignore online offers for vaccinations. There currently are no vaccines, pills, potions, lotions, lozenges or other prescription or over-the-counter products available to treat or cure coronavirus disease 2019 (COVID-19) — online or in stores.
  • Do your homework when it comes to donations, whether through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone wants donations in cash, by gift card or by wiring money, don’t do it.

 

While these are unprecedented times, the best things we can do are stay calm, stick to reliable sites and sources of information, and support each other and our communities.

If you think you may have clicked on a fake link or given scammers your financial information, call Verve immediately at 800.448.9228 so one of our team members can help check your account for purchases you did not make and safeguard your account against fraud. You can also rest assured that if our fraud block system, OmniShield, detects potentially fraudulent use of your card, a temporary hold will be placed on it, and you’ll receive a text message with details about the suspicious transaction.

It’s Verve’s goal—in line with our guiding 7 Cooperative Principles—to provide education, training and information to help our members stay financially fit. Verve is committed to keeping our members educated when it comes to their finances by providing details on financial risks and ways to stay safe.