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A staggering figure of 30million people were scammed in 2005. On the other hand, imagine the amount of money transferred to the scammers during the year alone. Assuming that the average loss is $100 each, that would total up to $3billion lost to scams within a year.

And what is the most common scam? 419 scams? Nope. Its Phony Weight-Loos Product!!

“An estimated 30 million adults paid money, or gave up personal
financial identification, to a fraud of one kind or another, according
to the commission’s report based on its latest consumer survey.

The most common type of scam was for phony weight-loss products, with an estimated 4.8 million people as victims.

Tied
for second were scams involving foreign lotteries and “buyers clubs,”
which each victimized an estimated 3.2 million people. Buyers clubs are
scams in which people are charged for a membership they did not agree
to buy.

Other common scams include fraudulent prizes,
in which people paid for a prize they never received, and work-at-home
schemes
, in which people paid for programs that promised to boost their
earnings.”

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