Florida Consumer Fraud Attorney
There are several different kinds of fraud and one of those is consumer fraud. This consists of financial losses suffered by an individual. The most common targets are often college students who may not have the wherewithal or financial literacy to detect fraud or scam. They also target senior citizens who may not be in the loop on the latest scams. However, this kind of fraud can affect any consumer.
What is Consumer Fraud?
When you hear the word fraud your first thought often goes to a hacker who steals your identity. However, consumer fraud is when a business conducts deceptive practices that cause consumers to suffer a financial loss. This refers to false promises made to consumers as well as inaccurate claims. In some cases, it directly cheats consumers out of their money.
The Federal Trade Commission Act is a consumer protection law that helps to protect consumers from these types of fraud. The FTC collects complaints made by consumers. They then conduct an investigation of those claims and will sue the company if it is found they broke the law. The FTC is not the only party that can help with consumer fraud, a nationwide consumer fraud attorney can also help you if you have been scammed by a business.
Common Types of Consumer Fraud
There are different types of fraud that fall under the consumer fraud umbrella. The eight most common types of fraud are as follows:
- Credit and Debit card fraud
- Identity theft
- Fake charities
- Debt collection fraud
- Mortgage fraud
- Covid-19 scams
- Prize and lottery fraud
- Deceptive interest rate reduction fraud
There may be other frauds that fall under consumer fraud which is why it is important to discuss your circumstances with a consumer fraud attorney.
How You Can Detect Consumer Fraud
Consumer fraud is often detected too late but there are ways to look out for fraud in your finances. Some warning signs to look for are:
- Unexpected charges on your accounts
- Unreasonable denial of credit
- Debt collectors contacting you about purchases you did not make
- Notifications about the address, names, or password changes on accounts
It is important to look for telltale signs that there may be consumer fraud present. If it sounds too good to be true, it probably is. For example, you get a call about receiving a large sum of money only after you transfer funds to an account. There are often shady sellers online who will use similar scams to trick consumers out of their money. They may ask you to transfer or cash a check before ever sending you a product. If you suspect fraud you can contact the FTC or visit their online resources to verify a potential scam.
Contact a Consumer Fraud Attorney
Being tricked by a charity may be a major blow, you thought you were being a generous citizen and doing your part and in the end, you were tricked out of your hard-earned money. If you suspect you have been the victim of consumer fraud you need to contact our lawyer at 305-476-7400 to discuss your legal options.