FTC Survey Shows Advance-Fee Scams Top the List of Consumer Frauds
United States and Canadian law enforcers have joined forces to target a
scam that affects millions of consumers a year, bilking each of them out of hundreds of dollars or more, for
loans they never get. The 'loans' are promoted by Ontario-based telemarketers who target U.S. citizens by
running ads in U.S. newspapers that they pay for with stolen or compromised credit cards. The sales pitches
entice consumers with promises of 'guaranteed' loans or credit cards regardless of a consumer’s credit
history. When applying for these services, consumers often are asked to wire hundreds of dollars to
Canadian addresses.
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