The Better Business Bureau is reminding consumers to remain vigilant to avoid scams related to the coronavirus. In a statement the Better Business Bureau is receiving reports from consumers across the U.S. who are finding instances where the cost of high-demand items such as hand sanitizers, tissues, toilet paper, face masks and other products are skyrocketing. These complaints are about price-gouging, for instance a $10 dust mask, a $35 case of water, and a $60 bottle of hand sanitizer.
Price-gouging is a term referring to sellers who spike up the prices of goods, services or commodities to a level much higher than is considered reasonable or fair and is considered exploitative, potentially to an unethical extent. BBB is warning businesses to avoid the temptation to raise prices during this pandemic or any other disaster because it erodes marketplace trust.
"Both consumers and businesses need to treat each other ethically and compassionately, especially now," stated BBB President and CEO Jim Hegarty. "Consumers and businesses need to consider that when the dust settles after this crisis we all will remember how we were treated. The way consumers and businesses treat each other today will certainly impact how they move forward after the crisis."
The BBB is also seeing reports about fake cures, phony prevention measures, deceiving ads, government grant scams and other cons exploiting the public's fear of the coronavirus. Hegarty says there are no cures for COVID-19 at this time, and a preventative vaccine is at least a year or more away from being developed.
Another scam that has resurfaced is the government grant scam with a coronavirus twist. Scammers are hacking into people's Facebook accounts and are messaging their friends claiming they are eligible for a coronavirus government grant. Victims are told that the grant is being provided to seniors to pay their bills and buy medicine and supplies during this pandemic. All the victims are asked to do is supply their personal information and payment for processing fees.
Victims of price gouging and deceptive ads should report them at BBB.org/AdTruth. Other scams should be reported to BBB.org/Scamtracker or to your state's Attorney General's office.
