By: Michael Boshnack
The Scope of the Problem
"Consumers who face financial troubles, such as heavy debt, poor credit, or the need for substantial help for educational or personal finances, usually can least absorb the economic injury caused by fraud. Fraud promoters know that these consumers are willing to pay small amounts of money to process loans, arrange financing, or help locate sources of credit that promise to cure their financial woes. Recent FTC law enforcement efforts demonstrate that fraud promoters who promise financial services or assistance for a several-hundred-dollar fee generally do not deliver. Instead, they take millions of dollars from consumers without providing any services at all."
To read more on the FTC's reports about various scams click here
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