NORWOOD, VT — The Norwood Police Department is warning residents and business owners about an ongoing scam targeting recipients of Paycheck Protection Program loans.
The Norwood Anti-Scam Task Force has identified two businesses that have been targeted by the scam.
Scammers are using public PPP loan information to impersonate banks and contact individuals by phone or text.
Public PPP loan information lists businesses and loan lenders which scammers can then conduct further research on before contacting the targeted business.
The calls may appear to come from a legitimate financial institution due to spoofed phone numbers.
The goal is to trick victims into sharing online banking credentials or one-time passcodes, which can lead to unauthorized account access and financial loss.
Police advise residents to never share banking passwords, security codes or login credentials.
Authorities warn that phone numbers can be spoofed and caller ID should not be trusted.
Residents should avoid clicking links in unexpected texts or messages.
Police recommend verifying independently by contacting banks using a known, official phone number.
Anyone who believes they have been contacted or targeted should report it to their bank and the Norwood Police Department.
