Watch Out for COVID Cons
Joe Borg is director of the Alabama Securities Commission and president of the North American Securities Administrators Association.
Anytime there’s a major event that causes stress in people—a natural disaster, an economic collapse or anything that creates fear on a large scale—there’s a chance that there’s going to be a fraud component. We is a perfect storm for con artists. People are at home, they’re isolated, and they’re available. Scammers know that the economy is in turmoil, so they combine all those factors to make a friendly pitch.
