BANKING AND FINANCIAL INSTITUTIONS

Sophisticated fraud rings are operating a nationwide scheme taking advantage of the COVID-19 pandemic to steal money in state unemployment benefits, including in Montana. The scammers file for unemployment benefits using data they have gained in other data hacks. Through these data breaches, they have obtained sensitive personally identifiable information belonging to their victims, including names, addresses, phone numbers, email addresses, and social security numbers. The unemployment benefits are deposited into the victim’s account, or another account, and the scammers have the money forwarded to them. 

The best way to check on the status of your Economic Impact Payment is via the IRS website: https://www.irs.gov/coronavirus/get-my-payment. Please note that due to the unprecedented volume of users, this is putting a strain on many websites and applications.

In light of the ongoing developments related to the current coronavirus (COVID-19) situation, and its impact on financial markets, the Montana Division of Banking and Financial Institutions (DBFI) is urging Montanans to beware of con artists seeking to capitalize on fear and uncertainty. 

October is National Cybersecurity Awareness Month (NCSAM), which was launched by the National Cyber Security Alliance & the U.S. Department of Homeland Security in October 2004. Find out more about NCSAM on their website.