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In the recently released FTC list of the most prevalent frauds committed on US consumers in the US during the past year, Identity Theft comes first. The total number of frauds last year fell substantially over the previous year. Good news from increasingly aware consumers.
1. Identity theft
2. Shop at home, catalog sales
3. Prizes/sweepstakes and lotteries
4. Internet services and computer complaints
5. Internet Auctions
6. Foreign money offers
7. Advance fee loans and credit protection/repair
8. Magazines and buyers clubs
9. Telephone services
10. Health care
11. Business opportunities and work at home plans
12. Travel, vacations and timeshares
13. Office supplies and services
14. Grants, scholarships/educational and non-educational
15. Employment agencies, job counselors/overseas work
16. Investments.
The FTC is advising consumers to be vigilant, and use common sense in the fight against fraud. They advise, that if something sounds too good to be true, then it probably is.
The FTC reports that 60% of fraud case stem from unsolicited emails, and advises consumers to be especially wary of offers from these emails.
If someone writes you and says that you've won a lottery that you've never entered, but needs a small amount for transfer fees…that's a fraud.
If someone buys something of yours on Craigslist, and sends you a check for more than the amount of the purchase, asking you to send some cash for the extra amount…that's a fraud.
Last year the losses from fraud cases topped 1 billion dollars, and wire transfer fraud continues to rise.
The FTC advises that consumers question everything, and be wary of the unrealistic. Unfortunately the year's most prevalent fraud remains identity theft through credit card theft, something that consumers can't really protect themselves against.
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