COVID-19 Scams: Be On The Lookout

COVID-19 Scams: Be On The Lookout


June 21, 2023 | Eul Basa

COVID-19 Scams: Be On The Lookout


Believe it or not, there are some sick puppies out there looking to make a fast buck off the COVID crisis. A bad time for honest people is usually a good time for scammers -- and this has proven to be no exception. So let’s take a look at three seriously messed up COVID-19 scams. Be on the lookout for people trying to separate you from your hard-earned money!

Stimulus Scams

Unemployment claims in the U.S. have hit record highs in recent weeks as non-essential businesses shut down and furlough their employees. In response, the federal government has announced a stimulus package -- $1,200 checks to tide people over. 

Enter scammers. They’re taking advantage of this situation by impersonating the IRS, calling (or emailing or texting) to ask for your banking information so they can deposit your stimulus check.

Obviously, you don’t want to play that game. The real IRS would never ask for your private banking information in such a sloppy way.

Fake Masks

Ever since this crisis began, there have been shortages of several essential health and wellness products. One reason is private citizens hoarding; another is federal and state governments trying to direct the flow of critical supplies to areas where they’re most needed.

A good example of the latter is the N95 medical mask. These are in high demand as people all around the world work to stem the spread of the virus. However, basically all N95 masks in the United States have been stockpiled for use in hospitals.

You may be surprised, then, to see people selling N95 masks online. Don’t click. It’s a scam. And even if it’s not, these masks should be reserved for those who really need them at this time.

Work From Home

Some people work from home, and that’s entirely legitimate. (I’m doing it right now!) But given how many people are out of work right now, some scammers have taken to creating bogus job ads.

They promise you can apply easily, work from home, and start today. It’s a promise that’s too good to pass up for millions of Americans who are out of work and feeling the pinch. But then your new employers start pestering you to send them money for training or orientation. 

Obviously if anyone offering you a job wants you to pay them… it’s a scam.

We hope you found reading about these COVID-19 scams helpful!


READ MORE

I signed a new contract guaranteeing I'd work from home 3 out of 5 days a week. The new boss insists I come into the office all week. What can I do?

Your contract guarantees remote work, but your boss wants you back in the office full-time. Learn what your rights are, how to approach the conversation professionally, and what steps to take if your employer ignores the agreement.
March 13, 2026 Jack Hawkins
Man 20s financial goals

I’m 25 and willing to sacrifice almost anything to retire by 45. Tell me what to do.

At 25, wanting to retire by 45 sounds ambitious—but it’s a goal more people are quietly chasing than you might think. The idea falls under something called FIRE (Financial Independence, Retire Early). But reaching that goal in just 20 years requires more than saving a little extra money—it means deliberately designing your life around that outcome.
March 12, 2026 Jesse Singer
a-man-writing-on-the-paper

Artificial Scarcity Might Just Be The Key To Saving Your Finances In 2026

Money is easier to spend than ever. Tap your phone, click a button, subscribe to something new—it all happens in seconds. The problem is that convenience can quietly drain your bank account before you even realize what happened. That’s why a growing number of people are experimenting with something called artificial scarcity. Instead of waiting until their money naturally runs out, they intentionally create limits on how much they can access or spend. It might sound restrictive, but in 2026, it could actually be one of the smartest ways to stay financially sane.
March 12, 2026 J. Clarke
Young hispanic man with serious expression standing at the city

Why GenZ Can’t Live According To The 30% Housing Rule

For decades, the classic rule of thumb for housing has been simple: spend no more than 30% of your income on rent or a mortgage. But for many Gen Z renters, the rule feels almost laughable. In cities across North America, rent has climbed far faster than wages, and entry-level salaries often collide with record-high housing prices, student loan payments, and rising living costs. The result is that millions of young adults are spending far more than 30% of their income just to keep a roof over their heads.
March 11, 2026 J. Clarke
Older Japanese Worker

Americans Should Know That In Japan Older Workers Are Paid To Sit By The Window And Do Nothing. Would That Ever Work In The United States?

While companies in the United States and Europe push workers for ever higher productivity and demand stricter office schedules, corporate Japan has spent decades doing something very different—paying older employees to show up, sit by the window, and…do pretty much nothing.
March 13, 2026 Jesse Singer
Worried tired freelance businessman

I've been running a successful business out of my home for three years. My HOA suddenly won't allow home-based businesses. Can they really do this?

Can an HOA really ban your home-based business after years of operation? Learn your rights, possible exceptions, and smart ways to protect your income if your HOA suddenly cracks down.
March 10, 2026 Jack Hawkins


Disclaimer

The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.





Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team