Fraud Risks Associated with COVID-19 Stimulus Package

To our customers and friends,

At Liberty, we are committed to doing everything we can to protect our customers’ physical and financial welfare during the COVID-19 crisis. We feel the need to strongly warn our customers about the increased risk of fraud schemes that will happen in response to the new $2.2 trillion COVID-19 stimulus package passed by President Trump.

In the coming weeks, as stimulus aid checks and ACH payments are distributed, education will be the key to fraud protection. If you anticipate receiving aid, educate yourself on where that aid is coming from and how you will receive it by visiting

Never submit payment, banking, or personal information to sources that are not the IRS and be wary of IRS impersonators. Scammers posing as IRS agents may call or email asking you to “verify your bank account in order to receive a government check or wire”. Do not give out any banking information over the phone or via email, especially to people that contact you out of the blue.

Other possible fraud schemes to watch out for include:

  • Other imposter scams by people impersonating government agencies, international organizations, or healthcare organizations. These schemes will try to solicit money in the form of donations, steal personal information, or distribute malware.
  • Investment scams by people who want you to invest money into false products or services that can “cure” COVID-19. As of writing this statement, there are no official vaccines for COVID-19.
  • Product scams that try to sell supplies like face masks, gloves, or products that claim to protect against or cure COVID-19.
  • Insider trading by those who seek to profit financially off the virus’s economic impact.

We are asking all Liberty customers to be constantly vigilant against any and all fraud attempts. If you believe you are a victim of COVID-19 related fraud, please call one of our financial centers right away. We remain open and eager to help all our customers through this difficult time.

You can read more about fraud risk and protection here:

As always, thank you for choosing to bank with Liberty Savings Bank.

Liberty Savings Bank

2323 Stickney Point Rd

Sarasota, FL 34231


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