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According to the Data Book, people reported losing $10 billion to scams in 2023. That’s $1 billion more than 2022 and the highest ever in losses reported to the FTC, even though the number of fraud reports (2.6 million) was about the same as last year. Ranked by number of reports, imposter scams were at the top of the list – and by “top ...
Phishing. A form of fraud in which a scam artist sends an email (or places a phone call) purporting to be from the recipient's bank, internet service provider, or other trusted source and asking for personal information such as credit card or bank account numbers, passwords, or Social Security numbers.
Bureau of Consumer Protection. The FTC’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their ...
Truth In Advertising. When the Federal Trade Commission finds a case of fraud perpetrated on consumers, the agency files actions in federal district court for immediate and permanent orders to stop scams; prevent fraudsters from perpetrating scams in the future; freeze their assets; and get compensation for victims.When consumers see or hear an ...
However, two new areas – mortgage relief fraud and grant fraud – were added to the 2011 survey. 1 • During 2011, an estimated 10.8 percent of U.S. adults – 25.6 million people – were victims of one
We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Find legal resources and guidance to understand your business responsibilities and comply with the law. We work to advance government policies that protect consumers and promote competition.
Some scammers promise lower rates for processing credit card transactions, or better deals on equipment leasing. These scammers resort to fine print, half- truths, and flat-out lies to get a business owner’s signature on a contract. Some unscrupulous sales agents ask business owners to sign blank documents.
This Act (Title I of the Consumer Credit Protection Act) authorizes the Commission to enforce compliance by most non-depository entities with a variety of statutory provisions. Among other requirements, the Act requires creditors who deal with consumers to make certain written disclosures concerning finance charges and related aspects of credit ...
Phishing Scams and How to Spot Them. Phishing is a type of online scam that targets consumers by sending them an e-mail that appears to be from a well-known source – an internet service provider, a bank, or a mortgage company, for example. It asks the consumer to provide personal identifying information. Then a scammer uses the information to ...
The “Undertaking Spam, Spyware, And Fraud Enforcement With Enforcers beyond Borders Act of 2006” (the “U.S. SAFE WEB Act of 2006” or “Safe Web”) (Pub. L. No. 109-455, extended by Pub. L. 112–203) added subsection (j) to Section 6, allowing the Commission to use all of its investigative powers to conduct investigations and ...