Consumer Alert https://consumer.ftc.gov/consumer-alerts/2022/11/fraud-reports-and-losses-not-just-grandparents-story?utm_source=govdelivery
Fraud reports and losses: Not just a grandparent’s story
By
Bridget Small
Consumer Education Specialist
December 8, 2022
AddThis Sharing Buttons
Share to FacebookShare to TwitterShare to LinkedIn
Image
You might have heard that scams mostly affect older adults, but reports to the FTC tell a different story. Last year, adults under 60 — our Gen X, Millennial, and Gen Z neighbors — were more likely to report losing money to fraud than people 60 and over. And what did they report the most? Losing money to online shopping fraud, often when things pitched to them on social media never arrived.
Compared to older adults, those under 60 were more than four times as likely to report losing money on an investment scam, often a fake cryptocurrency investment opportunity, and more than five times as likely to report losing money to a job scam. Many college students reported losing money to phony job offers sent to their school email addresses. Overall, adults under 60 most often reported losing money to scams that started on social media, a website, or an app, and their median reported fraud loss was $500.
People over 60 were less likely to report losing money to fraud, but their reported losses were higher. The median reported loss was $800 among people in their 70s and jumped to $1,500 for people over 80. Older adults were more likely to report losing money to tech support scammers — cons who urge people to pay for unneeded computer repairs — and prize, sweepstakes, and lottery scams that demand payment but never give a prize. About one in four of the older adults’ loss reports said the scam started with a phone call.
Sharing what you know about scams helps protect people of all ages around you. Learn more at ftc.gov/PassitOn. If you see a scam, report it to the FTC at ReportFraud.ftc.gov.
____________________________________________________________
Consumer Alert
’Tis the season to spot and avoid gift card scams
By
Kira Krown
Consumer Education Specialist, FTC
December 5, 2022
AddThis Sharing Buttons
Share to FacebookShare to TwitterShare to LinkedIn
Image
Looking for a New Year’s resolution? Here’s one for you: Keep your hard-earned money safe from scammers by spotting and avoiding gift card scams. Then help others spot and avoid them, too. Scammers want you to pay with gift cards because they’re like cash: once you use a gift card, the money on it is gone. But what do gift card scams look like?
Someone may call, tell you they’re from a government agency, and say you owe taxes or a fine. Or they may pretend to be a family member or friend in trouble, who needs money right away. Or they may say you’ve won a prize, but first must pay fees or other charges.
In these and similar scenarios, here are signs you’re dealing with a scammer:
- The caller says it’s urgent. They tell you to pay right away or something terrible will happen. They try to pressure you into acting quickly, so you don’t have time to think or talk to someone you trust. Don’t pay. It’s a scam.
- The caller usually tells you which gift card to buy. They might tell you to put money on a Google Play, Target, or iTunes gift card — or send you to a specific store like Walmart, Target, or CVS. Sometimes they tell you to buy cards at several stores, so cashiers won’t get suspicious. If so, stop. It’s a scam.
- The caller asks you for the gift card number and PIN. The scammer uses that information to get the money you’ve loaded on the card. Don’t give them those numbers. It’s a scam. You’ll lose your money, and you won’t be able to get it back.
If you paid a scammer with a gift card, tell the company that issued the card right away. Keep the card and find any receipts you have. Then tell the FTC at ReportFraud.ftc.gov.
Visit ftc.gov/giftcards for more information.
Scams
Gift Card Scams https://consumer.ftc.gov/consumer-alerts/2022/12/tis-season-spot-and-avoid-gift-card-scams?utm_source=govdelivery
______________________________________________________________
For Release
FTC, State of Florida Act To Permanently Shut Down Grant Bae Business Grant Scam
Court orders would ban scam’s operators from grant and business consulting, require sale of defendant’s home, watch, car for use in refunds
December 8, 2022
AddThis Sharing Buttons
Share to FacebookShare to TwitterShare to LinkedIn
Tags:
- Consumer Protection
- Bureau of Consumer Protection
- deceptive/misleading conduct
- Coronavirus (COVID-19)
- Finance
- Government
- Advertising and Marketing
- Online Advertising and Marketing
- Advertising and Marketing Basics
The operators of an alleged grant scam called Grant Bae that targeted minority-owned businesses will face a permanent ban from grant-writing and business consulting services as a result of a lawsuit brought against them by the Federal Trade Commission and the State of Florida.
“These fraudsters preyed on minority-owned businesses that were trying to survive the pandemic,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “Our proposed orders will ensure these scammers get out and stay out of the grant writing and business consulting fields.”
In their complaint against Grant Bae, the FTC and Florida alleged that Grant Bae and its owner, Treashonna P. Graham, scammed businesses out of money, sometimes thousands of dollars each, with false promises of “guaranteed” grant funding and COVID-19 economic benefits that did not materialize.
The defendants in the case—Graham and her company C Lee Enterprises, LLC—have agreed to the terms of a proposed court order that would require them to:
- Stop grant-related services and business consulting: The order would permanently ban the defendants from providing any products or services related to either grants or business consulting.
- Stop deceiving consumers: The order would prohibit defendants from making any misleading statements in connection with any product or service they are selling.
- Turn over property: The order would require the defendants to turn over a home, a car and a watch to the court-appointed receiver in the case and would order the receiver to sell those items to raise money that would be used to provide refunds to businesses harmed by the Grant Bae scheme.
The order against Graham and C Lee Enterprisesincludes a monetary judgment of more than $2 million, which is partially suspended due to an inability to pay. An additional settlement with one relief defendant contains a monetary settlement of $115,000, which is fully suspended due to an inability to pay. If any of the defendants are found to have lied about their financial status, the full monetary judgments will be immediately due.
The Commission vote approving the stipulated final order was 4-0. The FTC and Florida filed the proposed orders in the U.S. District Court for the Middle District of Florida.
NOTE: Stipulated final orders or injunctions have the force of law when approved and signed by the District Court judge.
The Federal Trade Commission works to promote competition and protect and educate consumers. Learn more about consumer topics at consumer.ftc.gov, or report fraud, scams, and bad business practices at ReportFraud.ftc.gov. Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.
Press Release Reference
Contact Information
Media Contact
Office of Public Affairs
Staff Contact
Miriam Lederer
Bureau of Consumer Protection
______________________________________________________________
Consumer Alert
What proposed FTC updates to the Eyeglass Rule mean for you (https://consumer.ftc.gov/consumer-alerts/2022/12/what-proposed-ftc-updates-eyeglass-rule-mean-you?utm_source=govdelivery)
By
Colleen Tressler, FTC, Division of Consumer and Business Education
December 9, 2022
AddThis Sharing Buttons
Share to FacebookShare to TwitterShare to LinkedIn
The FTC enforces the Eyeglass Rule, which gives you the right to get your eyeglass prescription — whether you ask for it or not — and at no extra charge once your eye exam has been completed. Having a copy of your prescription lets you shop around and get the best deal. But based on public comments and consumer reports we’ve gotten, it’s clear that some eye doctors aren’t following the Rule.
To correct that and help the FTC enforce the law, the agency, in its notice of proposed rulemaking, wants eye doctors to not only get a signed confirmation when they release prescriptions to patients, but also to keep a record of that confirmation for at least three years. Eye doctors should already be requesting you sign a confirmation of prescription release when you receive your contact lens prescription.
The proposed updates also would clarify that your proof of insurance coverage is considered payment for services when determining when a prescription must be shared. It would also let your eye doctor give you a digital copy of your prescription, instead of a paper one, if you agree.
The FTC wants to know what you think about the proposed updates. The notice includes questions for public comment which will help the agency with its decision-making on the proposal. These include questions about provisions in the proposed rule, as well as questions related to the costs and benefits of the proposed rule to consumers and eye doctors. The notice will be published in the Federal Register in early January 2023. Once it’s there, please submit comments electronically or in writing for 60 days for agency consideration.
In the meantime, learn more about your existing rights at Buying Prescription Glasses or Contact Lenses: Your Rights. And if you think an eye care professional is violating the Eyeglass Rule, report it to the FTC at ReportFraud.ftc.gov.
__________________________________________________________
Business Blog
The eyes have it – or at least they should
By
Lesley Fair
December 9, 2022
AddThis Sharing Buttons
Share to FacebookShare to TwitterShare to LinkedIn
The eyes should have it: a copy of the prescription for their eyeglasses. That’s a right protected by the Ophthalmic Practice Rule, also known as the Eyeglass Rule to the millions of people who have benefited from the specs-tacular options it has opened for them over the years. The Rule requires prescribers to give patients a copy of their prescription immediately after an exam to determine the refraction of the patient’s eyes, even if the patient doesn’t ask for it and even if the prescription hasn’t changed. The FTC has announced a Notice of Proposed Rulemaking to reinforce the protections of the Eyeglass Rule and is asking for your feedback.
In place since 1978, the Eyeglass Rule encourages consumer choice and promotes competition in the market for eyewear. A key component of the Rule is making sure consumers have a copy of their prescription so they can compare prices, styles, and services at local providers, national chains, big box stores, online sellers, and others.
But we’ve heard reports that some prescribers may not be honoring their obligation to give patients a copy of their prescription, whether or not they ask for it. FTC staff has sent warning letters reminding prescribers of their responsibilities under the Rule. The just-announced Notice suggests some additional protections.
You’ll want to read the Notice of Proposed Rulemaking for the details, but the primary amendment to the Rule the FTC has proposed would require prescribers to ask patients to sign an acknowledgement confirming they have received their eyeglass prescription. Prescribers would need to retain that confirmation for three years. The thinking is that an acknowledgment would encourage compliance, remind patients of their rights, and provide prescribers with a way to verify that they lived up to that requirement under the Rule.
If the proposal of a signed acknowledgement retained for three years sounds familiar, that’s because it’s already a requirement under the FTC’s Contact Lens Rule. So another potential advantage of the proposed amendment may be to harmonize the confirmation process for the two Rules, relieving prescribers of the need to implement separate procedures.
The Notice of Proposed Rulemaking asks for your insights into – among other things – questions about the costs and benefits of the proposal. Once the Notice is published in the Federal Register, you’ll have 60 days to file a public comment. In the meantime, professionals in the field can focus on a compliance check-up by reviewing Complying with the Eyeglass Rule, The Contact Lens Rule: A Guide for Prescribers and Sellers, and FAQs: Complying with the Contact Lens Rule.
Consumers, before your next eye exam, read Buying Prescription Glasses or Contact Lenses: Your Rights to understand your protections under the Eyeglass Rule and the Contact Lens Rule.
Tags:
- Consumer Protection
- Bureau of Consumer Protection
- contact lenses
- Advertising and Marketing
- Health Claims
___________________________________________________
