Deck 15: Consumer Fraud

Question 1

Is This a Ponzi Scheme 24 Recently, a student came into a faculty member's office and handed the faculty member a card he had found in the business school building advertising a company called 12 Daily Pro. He said someone had been distributing these cards around the building, encouraging students to invest in a "business opportunity." It suggested that you could invest $6 to $6,000 and earn a 44 percent return in 12 days. The card called this program a "new economic paradigm." The faculty member decided this had to be a Ponzi-type scheme and sent an e-mail to all students in the school reminding them that such schemes are illegal, unethical, and immoral. The next day a local TV channel carried the story, and the following day the electronic payment service for the scheme froze all the company's accounts and essentially shut them down. A few weeks later, the SEC filed a securities fraud charge against the head of the company and against the company itself, calling it a Ponzi scheme.
Questions
1. What do you think made the faculty member believe this was a Ponzi-type scheme
2. What is the annual return the scheme operators were promising on investments in this scheme
3. Why do you think this scheme, which had been operating for over a month, attracted so many investors
4. Was the action taken by the faculty member appropriate

Answer 1

NO ANSWER

Question 2

On September 24, 2007, Miguel Carcamo was going through his mail. For some reason, Miguel had not yet received his bank statement, which he usually received at the beginning of each month. Although he was concerned, he took no action and decided not to worry about it. After all, was it his fault that the bank was a little behind Two weeks later, Miguel got a mysterious call from a creditor claiming that he needed to pay an overdue balance on his Visa card. Miguel, frustrated to receive such a call in the middle of dinner with his family, told the person that he must be mistaken and that he had paid his bill already this month. Before the caller was able to ask any more questions, Miguel hung up the phone. On October 15, 2007, Miguel tried to use his credit card. Unfortunately, the card didn't work because of insufficient funds. Upset and embarrassed, Miguel called his bank to inquire about the card. The bank had already closed for the day; however, Miguel left a message explaining what had happened. On October 16, 2007, Miguel's bank called regarding the message he had left the night before. The caller stated that Miguel had not only maxed out the credit limit on his Visa card but had also maxed out on the increased credit limit for which he had recently applied. Miguel stated that he had not applied for an increased credit limit.
It took several days, but after an investigation, Miguel discovered that he had been a victim of identity theft. Fortunately, besides his bank account being drained for a few thousand dollars, two fraudulent credit cards had been issued in his name. Both his bank statement and the new credit card statements were sent to a PO box at the post office.
1. What were some of the obvious red flags of identity theft that Miguel should have noticed
2. When Miguel noticed the red flags, how could he have minimized his losses
3. Now that Miguel has been a victim of identity theft, what are some of the steps he should take to repair the damage to his reputation, credit, and finances

Answer 2

1)
The first red flat is Mr. M used to receive bank statements at the beginning of every month, but he did not receive the statement for the month of September 2007. The Second red flat is when Mr. M was called by a creditor who asked him to pay an overdue amount. The third red flag is three weeks later when Miguel tried to swipe his credit card; he found out that he had insufficient funds.
2)
He should primarily call the helpline number of the respective companies or banks whose credit cards he used and request to block the respective cards with immediate effect. Next, he should report the matter to the FTC. FTC, Federal Trade Commission service can be availed by either calling their contact number or by accessing their official website.
FTC would help him to contact the police authorities and other concerned agencies about his identity theft, would help in the investigation of the fraud and also help to recover the damage caused because of this issue.
3)
The following are some of the steps that should be taken by M to repair the damage to his reputation, credit and finances:
• Report the identity theft to Federal Trade Commission.
• Consult the Postal Inspection Service when there is a redirection of mail.
• Consult the IRS when there are tax violations related implications.
• Consult the Social Security Administration when the social security number is being misused by the fraudster.
• Consult the credit reporting agencies like TransUnion, Equifax, Experian to report the identity theft.
• Consult the check verification companies.
• Finally, consult the financial institutions when the victim has account.

Question 3

Go to the Florida attorney general's consumer fraud Web site athttp://myfloridalegal.com/identitytheft Pick a transaction that you will likely be involved in from the list on the home page. Read about that transaction, including tips for consumers.
Write a one-page paper describing the potential fraud schemes that occur with your transation http:// myfloridalegal.com/identitytheft. Include the red flags that show up, and detail the preventative measures one should take.

Answer 3

Consumer should provide credit card numbers or bank account information over the phone only when the consumer has self-initiated the call and is willing to purchase a legitimate product. It is not at all safe to share credit card or bank account details even if a legitimate company seeks for these or even if the consumer is confident about the fact that the organization is trustworthy.
The consumers should never share credit card credentials if they are asked to disclose or even if there is any opportunity of receiving financial assistance. It is always safe to remember the PIN number of the credit card rather than writing it on any paper or storing it in any device. Credit card reports should be checked on annual basis. Fraudsters hack emails of genuine credit card users to steal credentials and misuse these to commit fraud.
Consumers should protect data from phishing and spoofing activities. Every credit card documents and identity should be secured and protected from theft. If the credit cards are being used at merchants they are supposed to check the type of card (VISA or Master Card) and the name of the issuing bank and nothing else is required to know by merchants.
In case of loss of card the consumer should immediately report the loss to the 24X7 emergency phone supports of the card issuing bank to block the card. If the card is not being used, then the consumer should destroy the card instantaneously. In USA it has been reported that every year as much as $500 million worth fraud happens due to misuse of credit card credentials.

Question 4

You have been searching for a job for some time. One day, while searching through some online want ads, you see the following advertisement:
Wanted: Persons seeking high paying corporate jobs in the Cayman Islands. Live the life of your dreams as you work for Globular Corp. Serious inquiries only. Send your resume to Amy Rickson at XXXXXX.
Out of curiosity, you e-mail Amy your resume and get the following e-mail the next day:
Congratulations!! We have reviewed your resume and determined you are exactly the kind of employee we are looking for to fill the position at Globular Corp. in the Cayman Islands. We would like to interview you in the Cayman Islands. We would like to fly you here, put you up in a five-star hotel, and see if you are a good fit for our company. However, in the past, we have purchased tickets and had people not come for the interview. To prevent this, we have the policy of requiring interviewees to wire us $500 to cover the cost of the tickets. You will then be refunded this money in full when you show up for the interview. Please respond to this e-mail with a range of days in which you will be available to interview and wire the $500 to XXXXXX account as soon as possible so we can purchase the tickets. Thank you, and we looking forward to meeting with you.
1. How would you respond to this e-mail What do you think might happen if you send the money

Question 5

The larger the amount requested by a fraudulent telemarketer, the easier it is for him or her to deceive victims.

Question 6

The National Processing Company was given authority by the FTC to preregister consumers for the do not call registry.

Question 7

Only stupid people who are not careful are victims of consumer fraud.

Question 8

Is This a Ponzi Scheme 24 Recently, a student came into a faculty member's office and handed the faculty member a card he had found in the business school building advertising a company called 12 Daily Pro. He said someone had been distributing these cards around the building, encouraging students to invest in a "business opportunity." It suggested that you could invest $6 to $6,000 and earn a 44 percent return in 12 days. The card called this program a "new economic paradigm." The faculty member decided this had to be a Ponzi-type scheme and sent an e-mail to all students in the school reminding them that such schemes are illegal, unethical, and immoral. The next day a local TV channel carried the story, and the following day the electronic payment service for the scheme froze all the company's accounts and essentially shut them down. A few weeks later, the SEC filed a securities fraud charge against the head of the company and against the company itself, calling it a Ponzi scheme.
Questions
1. What do you think made the faculty member believe this was a Ponzi-type scheme
2. What is the annual return the scheme operators were promising on investments in this scheme
3. Why do you think this scheme, which had been operating for over a month, attracted so many investors
4. Was the action taken by the faculty member appropriate

Question 9

On September 24, 2007, Miguel Carcamo was going through his mail. For some reason, Miguel had not yet received his bank statement, which he usually received at the beginning of each month. Although he was concerned, he took no action and decided not to worry about it. After all, was it his fault that the bank was a little behind Two weeks later, Miguel got a mysterious call from a creditor claiming that he needed to pay an overdue balance on his Visa card. Miguel, frustrated to receive such a call in the middle of dinner with his family, told the person that he must be mistaken and that he had paid his bill already this month. Before the caller was able to ask any more questions, Miguel hung up the phone. On October 15, 2007, Miguel tried to use his credit card. Unfortunately, the card didn't work because of insufficient funds. Upset and embarrassed, Miguel called his bank to inquire about the card. The bank had already closed for the day; however, Miguel left a message explaining what had happened. On October 16, 2007, Miguel's bank called regarding the message he had left the night before. The caller stated that Miguel had not only maxed out the credit limit on his Visa card but had also maxed out on the increased credit limit for which he had recently applied. Miguel stated that he had not applied for an increased credit limit.
It took several days, but after an investigation, Miguel discovered that he had been a victim of identity theft. Fortunately, besides his bank account being drained for a few thousand dollars, two fraudulent credit cards had been issued in his name. Both his bank statement and the new credit card statements were sent to a PO box at the post office.
1. What were some of the obvious red flags of identity theft that Miguel should have noticed
2. When Miguel noticed the red flags, how could he have minimized his losses
3. Now that Miguel has been a victim of identity theft, what are some of the steps he should take to repair the damage to his reputation, credit, and finances

Question 10

Go to the Florida attorney general's consumer fraud Web site athttp://myfloridalegal.com/identitytheft Pick a transaction that you will likely be involved in from the list on the home page. Read about that transaction, including tips for consumers.
Write a one-page paper describing the potential fraud schemes that occur with your transation http:// myfloridalegal.com/identitytheft. Include the red flags that show up, and detail the preventative measures one should take.

Question 11

You have been searching for a job for some time. One day, while searching through some online want ads, you see the following advertisement:
Wanted: Persons seeking high paying corporate jobs in the Cayman Islands. Live the life of your dreams as you work for Globular Corp. Serious inquiries only. Send your resume to Amy Rickson at XXXXXX.
Out of curiosity, you e-mail Amy your resume and get the following e-mail the next day:
Congratulations!! We have reviewed your resume and determined you are exactly the kind of employee we are looking for to fill the position at Globular Corp. in the Cayman Islands. We would like to interview you in the Cayman Islands. We would like to fly you here, put you up in a five-star hotel, and see if you are a good fit for our company. However, in the past, we have purchased tickets and had people not come for the interview. To prevent this, we have the policy of requiring interviewees to wire us $500 to cover the cost of the tickets. You will then be refunded this money in full when you show up for the interview. Please respond to this e-mail with a range of days in which you will be available to interview and wire the $500 to XXXXXX account as soon as possible so we can purchase the tickets. Thank you, and we looking forward to meeting with you.
1. How would you respond to this e-mail What do you think might happen if you send the money

Question 12

What are investment scams

Question 13

The National Processing Company was given authority by the FTC to preregister consumers for the do not call registry.

Question 14

Only stupid people who are not careful are victims of consumer fraud.

Question 15

What is identity theft

Question 16

What are some proactive steps that consumers can take to minimize their risk to identity theft

Question 17

What is a Nigerian money offer

Question 18

How does consumer fraud affect the economies of entire countries

Question 19

What does "https" stand for

A) Hypertext transfer protocol (secure).
B) Hypertext transfer point (site).
C) Hypertext transfer protocol (system).
D) Hypertext transfer protocol (sign).

Question 20

After working out at the gym, you notice that your car has been broken into and your wallet has been stolen. What should you do

Question 21

Because it is impossible to "market" at an assortment of levels, every multilevel marketing scheme is fraudulent.

Question 22

What is identity theft

Question 23

What are some proactive steps that consumers can take to minimize their risk to identity theft

Question 24

What is a Nigerian money offer

Question 25

How does consumer fraud affect the economies of entire countries

Question 26

What does "https" stand for

A) Hypertext transfer protocol (secure).
B) Hypertext transfer point (site).
C) Hypertext transfer protocol (system).
D) Hypertext transfer protocol (sign).

Question 27

After working out at the gym, you notice that your car has been broken into and your wallet has been stolen. What should you do

Question 28

Because it is impossible to "market" at an assortment of levels, every multilevel marketing scheme is fraudulent.

Question 29

In 2003, the FTC conducted a survey on the frequency and types of identity thefts perpetrated in the United States. The survey's results are available online at www. ftc.gov/os/2003/09/synovatereport.pdf.
From each of the six main sections in the report, choose and report on two statistics of interest (12 total). Your report should list the statistic; the page number in the report where it was mentioned; and one or two paragraphs detailing why you find that statistic interesting, important, or applicable to what you have learned in this chapter.

Question 30

Multilevel marketing companies:

A) Are illegal.
B) Increase their distribution process by recruiting additional company sales representatives.
C) Can legally pay commission to representatives for simply signing up new recruits.
D) Require little time and effort to be successful.

Question 31

The Gramm-Leach-Bliley Act gives you the right to:

A) Periodically change your Social Security number to avoid identity theft.
B) Receive a yearly stipend to cover the losses incurred as a victim of identity fraud.
C) Claim your high credit report although an identity fraudster has damaged it severely.
D) Sue the perpetrator for more money than he or she defrauded from you.
E) Opt out of having your personal information sold to organizations.

Question 32

Which of the following is a common characteristic of fraudulent money offer letters

A) The letter will ask for help, convincing the victim that assistance is desperately needed.
B) Through the letter, the perpetrator will try to build a relationship of trust with the victim.
C) The letter promises the victim a large amount of money for little or no effort on the victim's part.
D) The letter will make the victim feel that he or she is the only person receiving the "once in a lifetime" offer.
E) All the above.

Question 33

Consumers should provide credit card numbers or bank account information over the telephone only when:

A) They initiated the call and are purchasing a legitimate product.
B) They are asked to give the information.
C) The entity receiving this information is a legitimate company.
D) They feel confident that the receiving entity will protect such information.
E) Doing so qualifies them to receive certain financial benefits.

Question 34

By federal law, no organization or company can sell individuals' personal information without their express written consent.

Question 35

Which of the following institutions would not be very helpful to call in the event of identity theft

A) IRS.
B) Social Security Administration.
C) Local chamber of commerce.
D) A credit reporting agency.

Question 36

A discarded tax return has enough information to steal someone's identity.

Question 37

In 2003, the FTC conducted a survey on the frequency and types of identity thefts perpetrated in the United States. The survey's results are available online at www. ftc.gov/os/2003/09/synovatereport.pdf.
From each of the six main sections in the report, choose and report on two statistics of interest (12 total). Your report should list the statistic; the page number in the report where it was mentioned; and one or two paragraphs detailing why you find that statistic interesting, important, or applicable to what you have learned in this chapter.

Question 38

Multilevel marketing companies:

A) Are illegal.
B) Increase their distribution process by recruiting additional company sales representatives.
C) Can legally pay commission to representatives for simply signing up new recruits.
D) Require little time and effort to be successful.

Question 39

The Gramm-Leach-Bliley Act gives you the right to:

A) Periodically change your Social Security number to avoid identity theft.
B) Receive a yearly stipend to cover the losses incurred as a victim of identity fraud.
C) Claim your high credit report although an identity fraudster has damaged it severely.
D) Sue the perpetrator for more money than he or she defrauded from you.
E) Opt out of having your personal information sold to organizations.

Question 40

Which of the following is a common characteristic of fraudulent money offer letters

A) The letter will ask for help, convincing the victim that assistance is desperately needed.
B) Through the letter, the perpetrator will try to build a relationship of trust with the victim.
C) The letter promises the victim a large amount of money for little or no effort on the victim's part.
D) The letter will make the victim feel that he or she is the only person receiving the "once in a lifetime" offer.
E) All the above.

Question 41

Consumers should provide credit card numbers or bank account information over the telephone only when:

A) They initiated the call and are purchasing a legitimate product.
B) They are asked to give the information.
C) The entity receiving this information is a legitimate company.
D) They feel confident that the receiving entity will protect such information.
E) Doing so qualifies them to receive certain financial benefits.

Question 42

By federal law, no organization or company can sell individuals' personal information without their express written consent.

Question 43

Which of the following institutions would not be very helpful to call in the event of identity theft

A) IRS.
B) Social Security Administration.
C) Local chamber of commerce.
D) A credit reporting agency.

Question 44

A discarded tax return has enough information to steal someone's identity.

Question 45

The letter on the following page is example of a foreign advance-fee money scam. Read the letter and respond to the questions below.
Questions
1. Do you think Gardiah Mfana is an actual person
2. Do you believe that his proposition is real Why or why not
3. List and explain at least three elements of fraud that are present in this letter.
4. What are some of the characteristics found in this fraud that are similar to the characteristics found in all types of Nigerian money offers
5. Why do you think so many people become victims of this type of fraud
6. What can you do to protect yourself from becoming a victim of consumer fraud

Question 46

Identity theft can result in an individual's loss of credit.

Question 47

Keeping your wallet in your front pocket will help prevent it from being lost or stolen.

Question 48

A fraud scam in which the perpetrator, falsely claiming to represent a foreign bank, tries to get victims to invest in nonexistent foreign venture capital companies for high returns is called a clearinghouse scam.

Question 49

Elderly people are more susceptible to chain letter scams than any other type of fraud.

Question 50

How does the expression "If it sounds too good to be true, it probably is" relate to consumer fraud

Question 51

Pyramid organizations eventually fail, causing all but a few investors to lose their investments.

Question 52

Since a Social Security card does not contain your photo, it is impossible to have your identity stolen by merely losing your Social Security card.

Question 53

The letter on the following page is example of a foreign advance-fee money scam. Read the letter and respond to the questions below.
Questions
1. Do you think Gardiah Mfana is an actual person
2. Do you believe that his proposition is real Why or why not
3. List and explain at least three elements of fraud that are present in this letter.
4. What are some of the characteristics found in this fraud that are similar to the characteristics found in all types of Nigerian money offers
5. Why do you think so many people become victims of this type of fraud
6. What can you do to protect yourself from becoming a victim of consumer fraud

Question 54

Identity theft can result in an individual's loss of credit.

Question 55

Keeping your wallet in your front pocket will help prevent it from being lost or stolen.

Question 56

A fraud scam in which the perpetrator, falsely claiming to represent a foreign bank, tries to get victims to invest in nonexistent foreign venture capital companies for high returns is called a clearinghouse scam.

Question 57

Elderly people are more susceptible to chain letter scams than any other type of fraud.

Question 58

How does the expression "If it sounds too good to be true, it probably is" relate to consumer fraud

Question 59

Pyramid organizations eventually fail, causing all but a few investors to lose their investments.

Question 60

Since a Social Security card does not contain your photo, it is impossible to have your identity stolen by merely losing your Social Security card.

Question 61

Why is it important to study consumer fraud

Question 62

Following the directions discussed in this chapter, write to the direct marketing association and the three credit bureaus and request to opt out of preapproved credit card mailings. Turn in a copy of the letter to your professor.

Question 63

Jenny Lanstrom regularly visits her grandfather, Mike Lanstrom, every Thursday night. Jenny's grandfather has been a widower for the past six years. Jenny's grandfather is very intelligent. He is a decorated veteran of World War II, and over the years, he has been active in community service. Because Mike Lanstrom practiced as a family doctor for 46 years, he is a respected member of the community. For the last several months, Jenny has noticed something different about her grandfather. Lately, he has been agitated and upset.
One Thursday night, Mike told Jenny about products he had been buying over the phone. As Jenny investigated further, she realized that her grandfather had bought several products from a vendor by the name of Products for Life. Although the transactions were not large, the total amount had already added up to several hundred dollars. The next day, Jenny decided to research the company on the Internet. Surprisingly, she was unable to find any information about the company. She became extremely worried that someone was taking advantage of her grandfather.
1. What should Jenny do Should she confront her grandfather about the possibility of fraud If so, how should she approach him
2. Jenny realizes that certain words and phrases should be avoided when talking to the elderly about fraud. What are these words and phrases
3. Why are the elderly so susceptible to fraud
4. In what ways do fraudsters manipulate elderly victims' emotions

Question 64

You are trying to sell your car. You have been trying to sell it for a while and have it posted on an online classified ad. You receive the following e-mail:
Hello. My name is David Meganimus, and I am an assistant to the Greek ambassador to the United States. I will soon be moving to the United States as part of my job and have been seeking to purchase an automobile to use as I work in the United States. I saw your car on XXXXXX website and believe it is exactly what I am looking for. I would like to purchase your car and agree that your price of $8,500 is fair. However, I need the car shipped to New York and cannot send money directly to the shipper because of currency exchange problems. I would like to send you a certified cashier's check for $12,500, which you can cash at any bank. Then you can wire the $4,000 shipping charge to the shipping company's bank account using Western Union. The shipping company will then come and retrieve the car and ship it to me. Please let me know if this is agreeable so I can send the $12,500 as soon as possible. Thank you for your help.
1. How do you respond to David
2. What might be going on Do some research and determine what could happen if you agree, accept the $12,500 check, and wire the $4,000.

Question 65

You are a certified fraud examiner, and a local community group, the Silver Years Senior Squad, has requested that you give a presentation about consumer fraud. They want to hear about examples of recent scams that have happened to people and how they can avoid being scammed. Use the Internet to research current scams, and determine the main points you would cover in your presentation. A good place to start would be snopes.com/fraud/fraud.asp.

Question 66

Which federal statute requires that credit reports can only be obtained for legitimate business needs

A) Title 15 U.S. Code § 1692.
B) Final Rule-45 CFT Parts 160 and 165.
C) Title 15 U.S. Code, Chapter 41.
D) Title 15 U.S. Code § 1681.

Question 67

What is one way to determine if a website is secure or not

A) Look for the official logo of the company you want to deal with.
B) Look for an "s" after the "http" in the URL of the Web site.
C) Click on a link to see if it works.
D) Call the FTC and ask about the ISP address of the Web site.

Question 68

Why is it important to study consumer fraud

Question 69

Following the directions discussed in this chapter, write to the direct marketing association and the three credit bureaus and request to opt out of preapproved credit card mailings. Turn in a copy of the letter to your professor.

Question 70

Jenny Lanstrom regularly visits her grandfather, Mike Lanstrom, every Thursday night. Jenny's grandfather has been a widower for the past six years. Jenny's grandfather is very intelligent. He is a decorated veteran of World War II, and over the years, he has been active in community service. Because Mike Lanstrom practiced as a family doctor for 46 years, he is a respected member of the community. For the last several months, Jenny has noticed something different about her grandfather. Lately, he has been agitated and upset.
One Thursday night, Mike told Jenny about products he had been buying over the phone. As Jenny investigated further, she realized that her grandfather had bought several products from a vendor by the name of Products for Life. Although the transactions were not large, the total amount had already added up to several hundred dollars. The next day, Jenny decided to research the company on the Internet. Surprisingly, she was unable to find any information about the company. She became extremely worried that someone was taking advantage of her grandfather.
1. What should Jenny do Should she confront her grandfather about the possibility of fraud If so, how should she approach him
2. Jenny realizes that certain words and phrases should be avoided when talking to the elderly about fraud. What are these words and phrases
3. Why are the elderly so susceptible to fraud
4. In what ways do fraudsters manipulate elderly victims' emotions

Question 71

You are trying to sell your car. You have been trying to sell it for a while and have it posted on an online classified ad. You receive the following e-mail:
Hello. My name is David Meganimus, and I am an assistant to the Greek ambassador to the United States. I will soon be moving to the United States as part of my job and have been seeking to purchase an automobile to use as I work in the United States. I saw your car on XXXXXX website and believe it is exactly what I am looking for. I would like to purchase your car and agree that your price of $8,500 is fair. However, I need the car shipped to New York and cannot send money directly to the shipper because of currency exchange problems. I would like to send you a certified cashier's check for $12,500, which you can cash at any bank. Then you can wire the $4,000 shipping charge to the shipping company's bank account using Western Union. The shipping company will then come and retrieve the car and ship it to me. Please let me know if this is agreeable so I can send the $12,500 as soon as possible. Thank you for your help.
1. How do you respond to David
2. What might be going on Do some research and determine what could happen if you agree, accept the $12,500 check, and wire the $4,000.

Question 72

You are a certified fraud examiner, and a local community group, the Silver Years Senior Squad, has requested that you give a presentation about consumer fraud. They want to hear about examples of recent scams that have happened to people and how they can avoid being scammed. Use the Internet to research current scams, and determine the main points you would cover in your presentation. A good place to start would be snopes.com/fraud/fraud.asp.

Question 73

Which federal statute requires that credit reports can only be obtained for legitimate business needs

A) Title 15 U.S. Code § 1692.
B) Final Rule-45 CFT Parts 160 and 165.
C) Title 15 U.S. Code, Chapter 41.
D) Title 15 U.S. Code § 1681.

Question 74

What is one way to determine if a website is secure or not

A) Look for the official logo of the company you want to deal with.
B) Look for an "s" after the "http" in the URL of the Web site.
C) Click on a link to see if it works.
D) Call the FTC and ask about the ISP address of the Web site.

Question 75

Phishing is the method of:

A) Using e-mail or other Internet applications to deceive people into disclosing valuable personal information.
B) Convincing a person to divulge personal information over the telephone.
C) Hacking into another's computer files to access personal information.
D) Hiring a con artist to steal personal information from a person.

Question 76

What are some methods perpetrators use to steal a person's identity

Question 77

What are some examples of foreign advance-fee scams

Question 78

What is the difference between a fraudulent multilevel marketing organization and a legitimate multilevel marketing organization

Question 79

Why are the elderly and/or uneducated so susceptible to fraud

Question 80

Once an identity theft victim has reported a fraud to the FTC, the FTC will help a victim contact the FBI, Secret Service, and local police to coordinate an investigation.