Con artists have gone high-tech, using the Internet to defraud consumers in a variety of clever ways. Whether they’re using the excitement of an Internet auction to entice consumers into parting with their money, applying new technology to peddle traditional business opportunity scams, using email to reach vast numbers of people with false promises about earnings through day trading, or hijacking consumers’ modems and cramming hefty long-distance charges onto their phone bills, scam artists are just a click away.
Fortunately, law enforcement is on the cyber-case. Using complaints to Consumer Sentinel, a consumer fraud database, as their guide, law enforcement officials have identified the top 10 dot cons facing consumers who surf the Internet, as well as many of the fraudsters behind them. In addition to putting many online con artists out of business, the Federal Trade Commission, the nation’s chief consumer protection agency, wants consumers to know how not to get caught in their web.
According to the FTC, here’s what online consumers are complaining about most:
Internet Auctions
The Bait: Shop in a “virtual...
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