COVID-19: A BREEDING GROUND FRAUD?

Stay home. Wash your hands. Don’t click that link. As the coronavirus pandemic continues to sweep across the globe, people have yet another thing to worry about: Fraudsters.

The coronavirus outbreak is first and foremost a human tragedy, affecting hundreds of thousands of people. The World Health Organization declared this outbreak as a pandemic and a public health emergency. The warning bells are ringing!! From regulators, law enforcement agencies and consumer organisations around the globe, the message is clear: Fraudulent schemes related to the coronavirus have arrived and fraud is surely an inevitable symptom of the COVID-19 pandemic

FRAUDS AND SCAMS IN THE WAKE OF COVID-19

During a crisis, people and businesses tend to let their guard down on normal routines because they are worried about how to keep their doors open. The combination of financial and health threats make people more vulnerable and create opportunities for fraudsters to take advantage. Unfortunately, it seems that COVID-19 is a perfect storm for fraudsters because people are driven typically by greed and financial hardship and motivated by opportunity.

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