Sunday, March 29, 2009

Something For Nothing Usually Spells Fraud.

According to the U.S. Federal Trade Commission’s annual Consumer Sentinel Report,
2008 was a banner year for fraud and identity theft rings.
And when asked about it, local officials offered the same advice:
“If it sounds too good to be true, it usually is.”“With the economy the way it is, you’re going to see more of the same,” warned Vigo County Prosecutor Terry Modesitt.
“People are trying to steal. That’s what it is.”According to the FTC’s 98-page report released in February, 1.2 million complaints of fraud were lodged between January and December of 2008, with 26 percent categorized as “identity theft.”
In 2007, 1,050,229 total fraud complaints were issued, with 25 percent in the identity theft category, compared to the 2006 figure of 890,066 in 2006, of which 28 percent targeted identities.
Something for nothing is usually a fraud.

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