Houston Telemarketing Fraud Cases

Here’s the thing about telephones – they’re great for communicating with family and friends, and they make business and banking transactions a lot simpler than they used to be earlier. However, telephones have their fair share of disadvantages too. They almost never stop ringing, and if and when they stop working, it feels as though communication has ceased on the planet. Also, telemarketers choose the worst times to call. Another thing about telemarketing is that it could be dangerous. The timing of the calls, though, isn’t what’s so dangerous about telemarketing. Due to the relative anonymity offered by telephonic conversation, telemarketing fraud cases occur, not just in the United States, but also in many other countries across the globe.

Speaking objectively, it must be admitted that telemarketing is a legitimate industry, with several companies competing in the field. The problem arises due to the fact that there are unscrupulous players out there, companies as well as individual con artists who are constantly on the lookout for the next lucrative telemarketing scam. Unsuspecting people are cheated out of their hard-earned money due to such scams. In order to avoid becoming a victim, you should know about the common telemarketing fraud cases out there. If you’re able to recognize a scam when you hear one, then you can not only avoid getting victimized, but you can also report the perpetrators to law-enforcement agencies.

Here are a few common telemarketing fraud cases you should be aware of:

Sweepstakes Scams

This type of scam usually involves the victim receiving a call from the con-artist pretending to be from a sweepstakes company. The ‘representative’ says that he or she is calling to inform the ‘winner’ about the grand prize that they have won. The caller then tries to get the victim to part with his or her credit card or bank account’s details, for reasons of ‘security’ or ‘insurance’. If the caller succeeds in getting these details, it’s very easy to transfer money from the victim’s account into their own.

Telephone investments

Smooth-talking con artists use telephone directories to look up small-time businessmen and individuals whom they think will be interested in ‘investing’ their money in a ‘risk-free business venture’. They use their gift of the gab to convince their victims of the infallible nature of their venture and as soon as they receive money for ‘investing’, they shift base to another location where they don’t think they can be traced.

Automatic Debit Scams

Another common scam is when telemarketers call claiming that you have been approved for a popular bank’s credit card. The callers attempt to make you give them some sensitive information about your bank account or your social security, citing ‘security reasons’. If they get this information, they will use it to debit money from your account, charging you a lot of money for something that is probably not worth even a third of that amount.

If you’re careful when dealing with telemarketers, then it’s highly unlikely that you would become a victim of fraud through this channel. But do remember these telemarketing fraud cases, so that you will be able to avoid being scammed in a similar manner.

Telemarketing Fraud Statistics

When Alexander Graham Bell invented the telephone, he’d never have imagined his invention serving anything but its intended purpose: communication. These days, it’s not only irritating to receive call after call from telemarketers; it’s also risky. This article will provide you with detailed and up to date telemarketing fraud statistics, so you can prevent yourself from being scammed out of your hard-earned money over the phone.

Why is it important to examine data about telemarketing fraud? The answer is simple. Verifiable facts and figures help establish telemarketing fraud as a legitimate threat. It’s only when we feel threatened that we sit up and proactively go about guarding ourselves against the dangers of such fraud.

Money is a precious thing, and your money is indeed precious to perpetrators of telemarketing fraud. That is why you need to be aware of telemarketing fraud statistics of the last few years. Once you are convinced that you too might stand to lose from telemarketing fraud, you will probably want to take steps to ensure that you don’t become a target, or if you are targeted, you don’t become a victim. In order to be able to do this, you should read up about telemarketing fraud cases and look up tips on the internet that will guide you about how to avoid telemarketing crime.

Go through the information provided here carefully, and familiarize yourself with any emerging patterns of telemarketing fraud. Here’s a look at some recent telemarketing fraud statistics:

  • In the year 2005, 59% of initial contact made by con-artists was over the phone, as opposed to the other methods of contact like the print or the mail. Judging by the subsequent years’ stats, telephonic contact remains the preferred method of con-artists for interacting with potential victims.
  • In 2007, as compared with 2005, the average percentage of losses incurred by customers who fell victims to the top ten most common scams was higher. For instance, in 2005, the average loss through sweepstakes scams was $4990, which rose to $6601 in 2007. This indicates a rising trend in telemarketing fraud in the United States, as well as a tendency on the part of perpetrators to continue using similar methods.
  • It is interesting to note that telemarketing scams such as fake-scholarships show a downward trend in terms of the percentage of complaints recorded; yet the average loss suffered by consumers is up from $366 in 2005, to $532.28 in 2007.
  • It should be noted that telemarketing fraud perpetrators are increasingly resorting to online payment methods to transfer money from their victims to their own accounts, but the scams in themselves aren’t internet-related. A major increase has been seen in fake-check scams, amounting to 58% of complaints registered and resulting in an average loss of $3854.78.

Telemarketing fraud statistics help you to better assess the kind of threat you face from telemarketing scams, and it is advisable to keep monitoring these numbers on a regular basis. Keep in mind that an informed customer is a safer customer.