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And yet, consumers are falling for it. In this latest scam, callers who claim to represent the United States government are calling their victims on the telephone and claiming that the victim is entitled to a government grant. The amount varies, but numbers often tossed about are either $6000 or $12,000. The caller either tells the victim that the money is theirs with no strings attached or that the money will be sent once a $250 “processing fee” is paid. In each case, the caller then requests specific information from the victim, including name, address, Social Security number and bank account information. The caller explains that this process, “by Federal law” involves depositing the money directly into the victim’s bank account. No check or paperwork will be sent by mail, the caller says.
Of course, there is no money. The whole purpose of the call is to obtain the victim’s bank account information. At that point, the caller can either with draw the $250 “processing fee” or simply take all the money out of the account.
These financial scams continue to thrive because of the perpetual belief that the government gives money away. They don’t give money; they take money. That’s why we pay taxes. Grant money is only available to people who can do things that the government would actually like to see done. If you can come up with a way to take gold out of sea water cheaply, you can probably obtain a grant for it. But the process of filing for, and obtaining, a grant is a long and tedious one that involves a lot of time and a lot of paperwork. It is not an easy thing to do, no matter what the guy with the suit with the question marks on it says.
If someone calls and tells you that you are entitled to government grant money, hang up. And never, ever give personal information to a stranger over the telephone. Only harm can come from that.
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