COVID-19 Frauds and scams – Protecting your organizations and its employees

What compliance officers need to know.

Marc Miller

Marc Miller

Partner, Risk & Compliance Leader, KPMG US

+1 212-872-6916

COVID-19 has created previously unthinkable consequences for our society.  In these uncertain and difficult times, fraudsters opportunistically prey on the fear and uncertainty created by a public health emergency, looking to profit from the public’s desire to regain a sense of safety and security.  Compliance officers should be looking for ways to protect both their employees and their organization as a whole.

Compliance officers should consider informing their employees on the types of frauds and scams which are permeating our society:

Technology-driven scams

  • Phishing scams
  • COVID-19 fraudulent websites
  • Business email compromise
  • Ransomware attacks
  • Other mobile app scams

Misrepresentation by sales channels

  • Online education applications
  • Supply scams
  • Counterfeit drugs
  • Covid-19 testing and treatment scams
  • Healthcare provider scams

Investment and charity

  • Charity scams
  • Investment scams

This report also details ways in which companies and their employees can protect themselves from falling victim to COVID-19 scams.