SBA Warns of Economic Stimulus Fraud

The U.S. Small Business Administration has issued a scam alert warning small businesses not to respond to letters falsely claiming to have been sent by the SBA that ask for bank account information in order to qualify them for federal tax rebates.

The fraudulent letters, which appear to be on SBA letterhead, advise recipients that they may be eligible for a tax rebate under the Economic Stimulus Act. The letter asks the small business to provide the name of its bank and account number.

"These letters have not been sent by or authorized by the SBA, and all small businesses are strongly advised not to respond to them," said a statement from SBA, which noted that the scheme is similar in many ways to e-mail scams often referred to as "phishing" that seek personal and financial account information.

The SBA is working with the SBA Office of the Inspector General to investigate this scam and is asking that anyone who receives such a letter report it to the OIG Fraud Line at 1 (800) 767-0385, or e-mail at [email protected].