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There’s a standard movie trope of a group stranded in the desert. Parched and burned, their spirits soar when they see an oasis on the horizon. With their last ounce of energy, they crawl toward the lush palms and beckoning pool. But as they dip their hands in the water, they realize it was just a mirage. For consumers looking to supplement their income and gain financial independence, promoters’ promises may seem like that oasis on the horizon. But in many cases, those money-making promises are an illusion. That’s the theme of Operation Income Illusion – a just-announced crackdown by the FTC and 19 federal, state, and local law enforcement partners. ....
Investment and work-from-home scams have surged during pandemic, feds say By Irina Ivanova Black Friday attracts online scammers Scammers are targeting thousands of Americans who have lost their jobs or seen their pay decline during the coronavirus pandemic with fake investment schemes or work-from-home arrangements, federal regulators said Monday. Between April and June of this year, the Federal Trade Commission received a record number of complaints about scams, according to the agency. More than 11,000 such incidents were reported a 70% jump from the year-ago period. In the first nine months of 2020, victims lost $150 million to phoney offers of job training, work-from-home schemes or investment opportunities, according to the FTC. Since 2016, losses from these schemes have topped $600 million. ....
As Scammers Leverage Pandemic Fears, FTC and Law Enforcement Partners Crack Down on Deceptive Income Schemes Nationwide prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.