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Around 15% of American households fell victim to a financial scam in 2023. American consumers lost a total of $8.8 billion to fraud and scams in 2022. Scams are everywhere these days, and...
In some cases, insisting on counting to make sure the money is all there is the basis for a clever scam. The scam is sometimes called the Santo Domingo Sting, after an incident that took place in Santo Domingo, Dominican Republic. A journalist, Joe Harkins, reported his involvement in the early 1990s. [76]
The FBI Internet Crime Complaint Center (IC3) received more than 101,000 reports of scams and fraud against people ages 60 and older in 2023, causing seniors to lose over $3.4 billion. And those ...
МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%.
Social media is full of scammers promising guaranteed returns on investment, and consumers lost billions of dollars to them last year. Troy Gochenour, 50, of Columbus, Ohio, was conned out of ...
High-yield investment program. A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors. [1]
Fraud cost consumers $8.8 billion in 2022, the Federal Trade Commission reported last year, and scammers are making more money per fraud than they were the year before. Younger adults (ages 20-29 ...
Internet. Make Money Fast (stylised as MAKE.MONEY.FAST) is a title of an electronically forwarded chain letter created in 1988 which became so infamous that the term is often used to describe all sorts of chain letters forwarded over the Internet, by e-mail spam, or in Usenet newsgroups. In anti-spammer slang, the name is often abbreviated "MMF".