The latest North American crackdown on marketing fraudsters has discovered 500,000 telemarketing victims that have lost more than $100 million collectively.
The crackdown on telemarketing fraud was initiated by Federal Trade Commission (USA) and Competition Bureau of Canada. Two medication suppliers and a credit card fraud company are in the spotlight of investigation.
The quacks sold health discount cards for almost $400 a piece using telemarketing campaigns and cold calling.
Another popular telemarketing fraud is selling bogus credit cards to vulnerable and financially instable people. The worst thing is that illegal telemarketing is often interwoven with similar online activities and so called telemarketers operate under a banner of a retail store, also known as boiler rooms. Some boiler room fraudsters operate from private apartments and use call routing to hide their identity.
It all makes life difficult for genuine telemarketers, whose telemarketing campaigns fail because of the tainted image of direct marketing as such.
However, arrests are being made, legal fines issued and telemarketing boiler rooms sealed. Well done FTC, well done Competition Bureau!
Poor telemarkets - relief for everyone else.
It’s a great news. Many people lost their money because of them. I hope it can decrease the fraud
You are right. It leaves more space for aces like us