Savvy Consumer Information Center - Scams and Frauds
Savvy Consumer Information Center - Scams and
Frauds
Scams and
Frauds
Here are some of the
latest Scams, Frauds, and Consumer Abuse items in the news.
Cars - Computers -
Education -
Employment - Family - Federal Programs - Food
Health - Housing - Money - Small Business - Travel - And
more...
Fraudulent Ads Using Official Financial Institution
Logos -
The Federal Deposit Insurance Corporation (FDIC) warns of frauds using official financial institution logos in newspaper
ads. The scam begins with a fraudulent ad for mortgage, small business, debt consolidation or other loans placed in
smaller-market or community newspapers. The phone numbers in the ads are for prepaid cell phones. The consumer
(victim) provides application information, including his or her Social Security number, over the phone to a "third-party
consultant" and is told that a loan is "granted." A loan package is faxed to the victim and includes a request for bank
account and other personal information. The victim is asked to make an advance payment or deposit before the loan is
advanced by wire transfer. The deposit is wired to the "third-party consultant." Basically, the consumer in this scheme
does not obtain a loan; rather, this is a method to obtain advance payments from the victim.
Read
more...
Back to Scams and
Frauds
Get the Savvy Consumer Newsletter! (FREE)