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Can you spot the top 10 scams?

Can you spot the top 10 scams?

(Scams) Permanent link

An estimated 30.2 million adults – 13.5 percent of the U.S. adult population – were victims of fraud during a single year, according to a new survey released yesterday by the Federal Trade Commission. Here are the top 10 scams with hyperlinks to more info:

  1. Fraudulent Weight-Loss Products
  2. Foreign Lottery Scams
  3. Unauthorized Billing - Buyers Clubs
  4. Prize Promotions
  5. Work-at-Home Programs
  6. Credit Card Insurance
  7. Unauthorized Billing - Internet Services
  8. Advance-Fee Loans
  9. Credit Repair Scams
  10. Business Opportunities

Twenty percent of African Americans and 18 percent of Hispanics are estimated to have been victims, while the rate for non-Hispanic whites was 12 percent. In addition, the survey found that younger consumers, those who did not complete college, and those with high levels of debt were more likely to be victims of fraud.

Posted by AGO Blog Moderator at 10/30/2007 02:56:50 PM | 

In particular about credit repair scams, I see a lot services out there that talk about creating a new credit profile. Usually this is just getting you another Tax Identification Number (something you might do if you are starting a business). In itself there is nothing illegal about this, but if you try and begin running your personal life through this TID, such as applying for personal credit cards, this would be considered fraud. If you are attempting to repair your credit, there are many tried and true methods that over time will improve your credit score. Just be wary of this this kind of service!
Posted by: William Lingle ( Email ) at 9/14/2008 6:56 PM

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