Small Business Admin. on the ball with disaster fraud

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Small Business Admin. on the ball with disaster fraud

Post by Dale_G » Wed Oct 18, 2017 9:51 pm

A letter arrived yesterday addressed to one of my sons (a contractor on a tiny island east of Africa) from SBA. It was addressed to firstname B. lastname at our address. The middle initial was wrong, but no matter. The letter said, "You recently registered with FEMA for assistance with your disaster losses". Nope, the real son didn't register for any assistance. A fraudster is at work.

I called the SBA fraud hotline at (800) 767-0365. After a short telephone decision tree someone picked up on the second ring. Sadly, they are all too familiar with the scam. This fraudster won't be getting a loan or grant in my son's name. He/she could have registered with 50 different names, but I stopped one.

Identity fraud is pervasive. Locking or freezing your credit report helps to protect you. Reporting the attempted fraud helps to protect the businesses we are invested in, the charities we support - and the taxpayers.

Do your part.

Volatility is my friend

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