Avoid getting scammed out of your child tax credit with these tips

Keep your money out of criminal hands.
By , 1080 KRLD

It should come as no surprise that for every dollar in your bank account, there’s someone willing to take it from you. Some of those people would like to come by your money honestly, through the sale of quality goods and/or services.

But there are others who are not so altruistic. And with the American Rescue Plan having bolstered the bank accounts of most Americans with stimulus checks, a number of those same Americans have become the victims of scams.

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According to a report by the Federal Trade Commission (FTC), around 327,000 fraud complaints have been filed since the first day of 2020, and the amount of money lost is jarring. Essentially, Americans have been scammed out of a combined $488 million over the course of the pandemic.

Now more money will be flowing from the feds to the populace by way of the expanded Child Tax Credit. Qualifying Americans began receiving $300 per child on Thursday. So how do you protect yourself and make sure that money goes towards the things you need and doesn’t end up swindled?