• About
  • Contact
  • Privacy
  • Terms
  • DMCA
  • Sitemap
  • Write For Us
Wednesday, February 24, 2021
Daily illinois - USA | News, Sports & Updates Web Magazine
  • Covid-19
  • News
    • All
    • Education
    • Politics
    • Sports
    • World
    Tucker Carlson Suggests QAnon Doesn't Exist Because He Can't Find Its Website

    Tucker Carlson Suggests QAnon Doesn’t Exist Because He Can’t Find Its Website

    Tiger Woods completed one of sport's greatest comebacks. Can he do it again?

    Tiger Woods is awake and recovering from surgery after serious accident

    US aviation body orders urgent probes of some Boeing 777 engines

    US aviation body orders urgent probes of some Boeing 777 engines

    Sangamon Auditorium - PHOTO COURTESY UIS VIA YOUTUBE/UISTUBE

    Letters to the editor 2/18/21

    Retired NYPD cop and Queens 'Republican Messiah' arrested in Capitol riot probe

    Retired NYPD cop and Queens ‘Republican Messiah’ arrested in Capitol riot probe

    Naomi Osaka Beats Jennifer Brady To Win Australian Open

    Naomi Osaka Beats Jennifer Brady To Win Australian Open

    England v Northern Ireland: women’s international football friendly – live!

    The company is looking to SME partners for growth

    Retail Rethink – Why A UK Fintech Startup Is Looking Beyond Big Brands To SME Partnerships

    Tesla May Have Made $1B on Its Bitcoin Investment

    Tesla May Have Made $1B on Its Bitcoin Investment

    Unemployed Californians face months of delays when appealing denial of jobless benefits

    Unemployed Californians face months of delays when appealing denial of jobless benefits

  • Science & Tech
    • All
    • Mobile
    There's a secret code in the Mars rover's parachute

    There’s a secret code in the Mars rover’s parachute

    Spotify reveals HiFi tier, 80-country expansion, new exclusive podcasts

    Spotify reveals HiFi tier, 80-country expansion, new exclusive podcasts

    ‘Follow the Sun’ is a new Mac app to automate brightness and color temperature of HomeKit lights - 9to5Mac

    ‘Follow the Sun’ is a new Mac app to automate brightness and color temperature of HomeKit lights – 9to5Mac

    Democrats ask cable and streaming providers about their role in spreading misinformation ahead of Capitol riot

    Democrats ask cable and streaming providers about their role in spreading misinformation ahead of Capitol riot

    Bradley Voytek

    The Brain’s ‘Background Noise’ May Be Meaningful After All

    This Android's under-display selfie camera isn’t great, but it's a sign for future phones

    This Android’s under-display selfie camera isn’t great, but it’s a sign for future phones

    'Diagrams' Mac app updated with palette customization and M1 Macs support - 9to5Mac

    ‘Diagrams’ Mac app updated with palette customization and M1 Macs support – 9to5Mac

    Portland Apple Store ready to reopen after nearly nine months - 9to5Mac

    Portland Apple Store ready to reopen after nearly nine months – 9to5Mac

    Clubhouse reaches 8 million downloads on the iOS App Store - 9to5Mac

    Clubhouse reaches 8 million downloads on the iOS App Store – 9to5Mac

    The best deals we found this week: $100 off the Mac mini M1 and more

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    null

    Disney Plus: Everything to know about Disney’s streaming app

    'Superman & Lois' flies back to the Man of Steel's 'Smallville' roots

    ‘Superman & Lois’ flies back to the Man of Steel’s ‘Smallville’ roots

    Actress Mara Wilson empathizes with Britney Spears being sexualized as a child

    Actress Mara Wilson empathizes with Britney Spears being sexualized as a child

    'Drivers License' made its 'SNL' sketch debut and Olivia Rodrigo is 'shaking'

    ‘Drivers License’ made its ‘SNL’ sketch debut and Olivia Rodrigo is ‘shaking’

    Best running earbuds and headphones to use for 2021

    Best running earbuds and headphones to use for 2021

    'Judas' writer asks: Does art have a place in the face of social injustice?

    ‘Judas’ writer asks: Does art have a place in the face of social injustice?

    Bachelor Matt James Publicly Criticizes The Franchise’s Race

    Bachelor Matt James Publicly Criticizes The Franchise’s Race Problem

    Dozens of paintings by the late folk artist George Colin are stored in August Appleton’s law office. - PHOTO COURTESY OF AUGUST APPLETON

    A scammer with an eye for art

    Harder, Better, Faster, Stronger: Daft Punk's 10 greatest moments

    Harder, Better, Faster, Stronger: Daft Punk’s 10 greatest moments

    The hosts of RedHanded on why their popular true crime podcast has to be political

    The hosts of RedHanded on why their popular true crime podcast has to be political

  • Lifestyle
    • All
    • Fashion
    • Food
    • Travel
    'That Vegan Teacher' says TikTok ban won't silence her following petition, controversies

    ‘That Vegan Teacher’ says TikTok ban won’t silence her following petition, controversies

    Feed your moths and hide your trousers: the expert guide to making clothes last for ever

    Feed your moths and hide your trousers: the expert guide to making clothes last for ever

    L.A. Zoo reopens for the second time during the pandemic

    L.A. Zoo reopens for the second time during the pandemic

    These Beautiful Photos Celebrate Diversity In The Most Joyful Possible Way

    These Beautiful Photos Celebrate Diversity In The Most Joyful Possible Way

    Nestlé’s Cookie AI Looks Creepy As Hell, But Could Improve Your Baking

    Nestlé’s Cookie AI Looks Creepy As Hell, But Could Improve Your Baking

    Airbnb for gardens is a thing. Rent an L.A. oasis to nap, do yoga, work, it's up to you

    Airbnb for gardens is a thing. Rent an L.A. oasis to nap, do yoga, work, it’s up to you

    Drew Barrymore shared her support for Britney Spears while revealing her own wild youth stories.

    Drew Barrymore shares her ’empathy’ for Britney Spears, talks about her own time in a psychiatric ward

    Risky business? Balancing Mexico's pandemic response with tourism

    Risky business? Balancing Mexico’s pandemic response with tourism

    Wife of 'El Chapo' busted on international drug trafficking charges

    Wife of ‘El Chapo’ busted on international drug trafficking charges

    Millennials slam Gen Z over fashion, beauty, emoji preferences

    Millennials slam Gen Z over fashion, beauty, emoji preferences

42 °f
Chicago
30 ° Thu
30 ° Fri
39 ° Sat
39 ° Sun
No Result
View All Result
Daily illinois - USA | News, Sports & Updates Web Magazine
No Result
View All Result
Home Science & Tech

FTC cracks down on investment scams, files complaints

by Staff Writer
December 17, 2020
in Science & Tech
Reading Time: 2min read
0
FTC cracks down on investment scams, files complaints
492
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


The Federal Trade Commission is moving against scammers that promise quick financial independence or unrealistic investment returns, among other alleged scams.

Related posts

There's a secret code in the Mars rover's parachute

There’s a secret code in the Mars rover’s parachute

February 24, 2021
Spotify reveals HiFi tier, 80-country expansion, new exclusive podcasts

Spotify reveals HiFi tier, 80-country expansion, new exclusive podcasts

February 23, 2021

Along with 19 federal, state and local law enforcement partners, the FTC announced a nationwide crackdown on scams that “have no basis in reality,” the agency announced this week.

The crackdown, “Operation Income Illusion,” involves more than 50 law enforcement actions against work-from-home and employment scams, pyramid schemes, investment scams and bogus coaching courses, among other schemes, the FTC said.

RESEARCHERS FIND CREDIT CARD ‘SKIMMERS’ INSIDE SOCIAL MEDIA BUTTONS

Scammers have exploited the COVID-19 pandemic as a perfect opportunity to prey on the fears of the public, with some of the most-targeted groups including students, military families, people on a limited fixed income and minorities, the agency said.

Consumers lost more than $610 million to these scams since 2016, with reported losses of more than $150 million in the first nine months of 2020. 

“The income scams that the FTC has pursued through its law enforcement actions in this sweep collectively bilked over a billion dollars from consumers,” the agency said.

FTC COMPLAINTS 

The FTC said it is asking courts to stop the deceptive schemes and is seeking restitution for affected consumers. Other agencies are also taking action, including the Securities and Exchange Commission, the Commodity Futures Trading Commission and several U.S. Attorney’s Offices. 

Two of the court cases cited by the FTC involved alleged get-rich-quick and investment schemes.

One alleged investment scam claimed that “consumers will earn between $500 and $12,500 per sale.” The defendants allegedly charged consumers for services, but the “vast majority of consumers who paid the defendants never earned substantial income, and in fact many consumers earned nothing,” the complaint alleges. 

In another case, the FTC’s complaint alleges the defendants “fraudulently marketed investment-related services that they claimed would enable consumers to make consistent profits and beat the market.” The FTC alleges investors have lost over $130 million to the “scam” in the last three years.

CLICK HERE TO GET THE FOX NEWS APP

“Scammers are preying on the unemployment and anxiety arising from the pandemic by making false promises of big income working from home,” said Andrew Smith, director of the FTC’s Bureau of Consumer Protection, in a statement.

5 SAFE SHOPPING TIPS FOR THE HOLIDAYS FROM EXPERTS

“If someone promises you guaranteed income, but then tells you to pay them, tell the FTC right away so we can work to shut them down,” the agency added. 

The FTC said it files a complaint when it has “reason to believe” that “the named defendants are violating or are about to violate the law and it appears to the Commission that a proceeding is in the public interest.



Source by www.foxnews.com

Share197Tweet123Share49
  • Trending
  • Comments
  • Latest
Van Morrison teams with Eric Clapton for anti-lockdown song

Van Morrison teams with Eric Clapton for anti-lockdown song

December 19, 2020
Sen. Rand Paul's ‘Festivus Report’ claims $54B in tax dollars was 'totally wasted'

Sen. Rand Paul’s ‘Festivus Report’ claims $54B in tax dollars was ‘totally wasted’

December 23, 2020
'Zombie' greenhouse gas lurks in permafrost beneath the Arctic Ocean

‘Zombie’ greenhouse gas lurks in permafrost beneath the Arctic Ocean

December 24, 2020
null

Disney Plus: Everything to know about Disney’s streaming app

0
Fact check: New York Gov. Andrew Cuomo announced he would defer his annual raise

Fact check: New York Gov. Andrew Cuomo announced he would defer his annual raise

0
Swedish government sidelines epidemiologist who steered country's no lockdown experiment as deaths rise

Swedish government sidelines epidemiologist who steered country’s no lockdown experiment as deaths rise

0
null

Disney Plus: Everything to know about Disney’s streaming app

February 24, 2021
FDA advisers to meet this week on Johnson & Johnson’s Covid-19 vaccine

FDA advisers to meet this week on Johnson & Johnson’s Covid-19 vaccine

February 24, 2021
FDA staff endorses J&J’s single-shot Covid vaccine for emergency use — clearing way for third vaccine in U.S.

FDA staff endorses J&J’s single-shot Covid vaccine for emergency use — clearing way for third vaccine in U.S.

February 24, 2021
Daily illinois - USA | News, Sports & Updates Web Magazine

Copyright © 2020 Dailyillinois.com.

Navigate Site

  • About
  • Contact
  • Privacy
  • Terms
  • DMCA
  • Sitemap
  • Write For Us

Follow Us

No Result
View All Result
  • About Us Page
  • Contact
  • DMCA Policy
  • Home 1
  • Privacy Policy
  • Submit, Guest Post, Write For Us and Become a Contributor
  • Terms of Use

Copyright © 2020 Dailyillinois.com.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.