Experts are warning of multiple scams as Americans continue to receive their stimulus checks.
According to the Treasury Department, more than 80 million Americans are expected to receive money via direct deposit using bank information used to file their 2018 or 2019 tax returns.
Adam Levin, co-founder of Credit.com and founder of CyberScout, told CNBC that hackers and scammers all across the globe are getting ready to target millions who are receiving their coronavirus stimulus checks.
Levin said Americans should watch out for scammers who will be calling, emailing and texting taxpayers, asking if they would like to increase the amount of their stimulus checks or speed up the process of receiving them.
“And in particular, they’re zeroing in on trying to get your Social Security number, which is the skeleton key to your life,” Levin added.
If receiving an email about a payment, Levin suggests going to the source and never clicking on the link. He also advises never opening up an attachment when going through an email.
Who is next in line to receive their check? The government is set to send out more payments, which include direct deposits, followed by mailed paper checks, in the coming weeks. If a person has their direct deposit information on file, that taxpayer will get priority on receiving their money. If you have not submitted that information, Americans can still do it.
If those who have not received their checks submit their bank information online by April 30, then they should receive the money by the next week.
Mailed paper checks will start coming to people’s mailboxes by April 20. Around 5 million checks will be sent by mail by that date. But, it could probably take up to five months for every check to arrive.
Next, during late April, the money will be sent to social security recipients who did not file tax returns in 2018 and 2019. This includes survivor and disability insurance beneficiaries and adult social security retirement.
All adult SSI beneficiaries can expect to receive their money by early May. The funds will be obtained the same way they receive their benefits.