Here are some scary facts about fraud and scams . . .
From the Internet Crime Complaint Center's annual report
The total dollar loss from all referred cases of fraud was $264.6 million with a median dollar loss of $931.00 per complaint. This is up from $239.1 million in total reported losses in 2007.
Of those complaints reporting a dollar loss, the highest median losses were found among check fraud ($3,000), confidence fraud ($2,000), Nigerian (west African, 419, Advance Fee) letter fraud ($1,650).
The Consumer Federation of America released the results of a survey in May 2009 which relates directly to information we at Scam Victims United work to educate people about. They found that fifty-nine percent of the respondents incorrectly believe that when you deposit a check or money order, your bank confirms that it is good before allowing you to withdraw the money. The number goes up to 70 percent among young adults age 18-24, and 71 percent of people with incomes under $25,000 and who did not complete high school. More than 40 percent of those surveyed do not know that they are liable if the checks or money orders they deposit or cash are counterfeit. Fifty-two percent age 18-24 and half of Hispanics incorrectly said the person who gave you the check must pay the bank back. This is precisely the type of information that we at Scam Victims United work to educate people about.
Co-Founder of ScamVictimsUnited.com
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