Old Consumer Watchdog Group Keeps An Eye On New Tricks
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The country's oldest consumer watchdog group has been investigating scams for more than a century, and the old group has issued a new warning about the current worst scams in the land. NY1's Consumer Watch reporter Asa Aarons filed the following report. The National Consumer League, the country's oldest consumer watchdog group, started investigating scams in 1899 and has been at it ever since.
It as just released a listing of the top scams reported to its fraud center. Regular Consumer Watch report viewers will see some familiar warnings on the list, alongside some new twists on old games.
Move over fake checks, phony prizes have now taken the number one spot. Fraudsters promise their victims a free prize like a new car, a vacation or a home entertainment system, and all they need first is a $500 processing fee. That is not a free prize.
Meanwhile, advance fee loans and credit arrangers have been a royal pain to consumers and consumer agencies and they continue to light up the phones at the complaint call center.
Scholarship grant info services have proven to be a quick education in how to lose money for many college-bound students. Why buy information that a student counselor can access for free?
Money transfers by wire have practically become tools of the trade for scam artists. While they serve a legitimate purpose for people needing emergency cash, they have become an all-too-easy way for crooks to take the money and run.
When someone asks you to wire money for any reason, your fraud alert flashers should be on and in high gear.
To find out more about these and other scams, visit the National Consumer League's site at www.fraud.org.