Scams

11/16/2009 -- WASHINGTON -- United States Senator Mary L. Landrieu, D-La., today urged the Federal Trade Commission (FTC) to help protect homeowners from scams by companies and individuals claiming to have solutions for tainted Chinese drywall. In a letter to FTC Chairman Jon Leibowitz, Sen. Landrieu and five other Senators raised concerns about deceptive practices that prey on consumers with defective drywall and asked the Commission to fully investigate and prosecute companies engaging in these activities.

The letter was signed by Senators Bill Nelson (D-Fla.), David Vitter (R-La.), Thad Cochran (R-Miss.), Roger Wicker (R-Miss.) and Jim Webb (D-Va.).    » read more »

November 16, 2009 -- PAGO PAGO, AS -- Fraud is a rare occurrence during disaster recovery. However, if it does occur, the Federal Emergency Management Agency (FEMA) has a responsibility to take action.

People who intentionally try to defraud the government are taking money away from those who truly need assistance. FEMA must ensure that taxpayer dollars go only to people who incurred legitimate losses. This may include prosecuting anyone who makes a fraudulent claim.

Most cases where possible fraud is detected are not deliberate attempts to defraud the federal government. FEMA recommends that applicants receiving grant money keep receipts to show how funds were used.    » read more »

Last Week Schumer Requested The FTC Step Up Enforcement Actions Against Websites Peddling Fake H1N1 Cures and Prevention Methods

November 16, 2009 -- Today, U.S. Senator Charles E. Schumer announced that the Federal Trade Commission (FTC) is embarking on a major crackdown on companies selling phony H1N1 remedies. As the problem of fake remedies grows worse, and concerns about the H1N1 flu increase, the FTC announced that they would take further enforcement action against ten companies that are peddling fake H1N1 remedies on-line.    » read more »

November 12, 2009 -- Washington, DC – More than three-quarters of older Americans are concerned that financial scams will damage their retirement nest eggs or those of someone they know, AARP and North American Securities Administrators Association (NASAA) said today.

In a survey released today by AARP, entitled Protecting Older Investors: 2009 Free Lunch Seminar Report, 78 percent of Americans age 55 and over surveyed indicated that they are very or somewhat concerned about financial scams affecting them or someone they know. A common setting for fraudsters to engage with their victims is by offering a free lunch or dinner, by which an older individual near retirement age is solicited to attend and learn more about investing in retirement.    » read more »

November 3, 2009 -- As part of a continuing effort to identify the latest cyber crime trends and warn the public, the FBI today released the following information:

Within the last several months, the FBI has seen a significant increase in fraud involving the exploitation of valid online banking credentials belonging to small and medium businesses, municipal governments, and school districts. In a typical scenario, the targeted entity receives a “spear phishing” e-mail which either contains an infected attachment, or directs the recipient to an infected website.    » read more »

Unveils New Plan To Make Credit Reporting Companies Advertising 'Free' Credit Reports Actually Give You A Credit Report For Free - Bust Up Scam Once And For All

November 3, 2009 -- Today, U.S. Senator Charles E. Schumer announced he is urging the Federal Trade Commission to bust up the long-running scam of credit reporting companies duping millions of New Yorkers into buying credit monitoring services by offering a so-called “free credit report” and then tacking on a costly monthly subscriptions charge that can cost hundreds of dollars a year.    » read more »

HB 232 is part of broad statewide effort to combat foreclosure and foreclosure-related fraud

October 05, 2009 -- WILMINGTON – Delaware Governor Markell signed legislation into law today clarifying protections of homeowners in foreclosure. House Bill 232 clarifies that companies that offer to negotiate modifications of secured debt, such as a mortgage, on behalf of consumers are subject to the provisions of the Mortgage Rescue Fraud Protection Act, which prevents companies from charging homeowners who are in foreclosure thousands of dollars in up-front fees to negotiate with loan servicers or lenders.    » read more »

Amid Foreclosure Crisis, Local Prosecutors Lack the Resources, Manpower to Fight New Wave of Mortgage Scams

September 29, 2009 -- WASHINGTON, DC—U.S. Senators Charles E. Schumer (D-NY) and Jon Kyl (R-AZ) announced new legislation Tuesday to better protect homeowners from the recent wave of mortgage scams by providing up to $200 million over two years for State and local prosecutors offices to battle real estate fraud. The bill authorizes the Justice Department to award competitive grants to prosecutors’ offices that seek to hire specialized staff—including investigators, forensic accountants, and attorneys—to combat such scams.    » read more »

September 17, 2009 -- WASHINGTON – The Department of Veterans Affairs (VA) is warning Veterans not to give credit card numbers over the phone to callers claiming to update VA prescription information.

"America’s Veterans have become targets in an inexcusable scam that dishonors their service and misrepresents the Department built for them," said Dr. Gerald Cross, VA’s Under Secretary for Health. "VA simply does not call Veterans and ask them to disclose personal financial information over the phone."

Veteran Service Organizations have brought to VA's attention that callers are misrepresenting the VA to gain personal information over the phone. They say VA recently changed procedures for dispensing prescriptions and ask for the Veteran's credit card number.    » read more »

Washington, D.C., June 22, 2009 — The Securities and Exchange Commission today charged a New York-based broker-dealer and four individuals with securities fraud, alleging that they collectively raised billions of dollars from investors for Bernard L. Madoff's Ponzi scheme.    » read more »

June 22, 2009 -- Five individuals pleaded guilty today in federal court in Detroit for their roles in a wide-ranging international stock fraud scheme involving the illegal use of bulk commercial e-mails, or "spamming."    » read more »

Has Led To Indictment Of 8 Individuals And The Opening Of More Than 80 Cases - Unit Cracking Down On Flood Of Mortgage Fraud Cases Infecting Brooklyn

June 22, 2009 -- Today, U.S. Senator Charles E. Schumer and Kings County District Attorney Charles J. Hynes announced that the Kings County Mortgage Fraud and Real Estate Crimes Unit has led to the indictment of eight individuals and the opening of more than 80 cases. One such case involves Thomas Prusik-Parkin, the man accused of impersonating his deceased mother to collect Social Security benefits and rent subsidies.    » read more »

SEC Charges Operators of $80 Million Ponzi Scheme Targeting Korean-Americans

Washington, D.C., June 9, 2009 — The Securities and Exchange Commission today charged two California men and two companies they control for conducting an $80 million Ponzi scheme that targeted Korean-American investors with false promises of extraordinarily high returns from foreign currency (forex) trading.    » read more »

Survey Shows Over a Million Consumers are Being Swindled

May 27, 2009 -- Washington DC – Today, the Consumer Federation of America is launching a national campaign to combat fake check scams. Millions of consumers are lured into accepting genuine-looking checks and money orders and wiring money to crooks in return. According to the results of a CFA survey, nearly one third of adults have been approached with fake check scams and at least 1.3 million have become actual victims.    » read more »

DEARBORN, Mich., May 15, 2009 – Statement from Ford Motor Company: "According to an email that is circulating, Ford Motor Company is offering a special program to sell 500 2010 Fusion Hybrids for $15,500 each.

Unfortunately, the offer is not legitimate and the email is a hoax. Also, the sales manager listed in the email is not a company employee.

Ford recommends that people delete the email and any attachments.

But as long as we’re talking about the Ford Fusion Hybrid, we’ll take this opportunity to pass along some things that are true:

* The all-new 2010 Fusion Hybrid is America’s most fuel efficient mid-size car with a certified 41 mpg rating in the city and 36 mpg on the highway.    » read more »