What is a Bottom Dollar Scam?
Bottom color scams are fraudulent claims made by scammers and scammers who prey on job seekers and vulnerable people. The bottom-line scams include false promises to make big bucks through means such as working from home, changing mortgages, and reducing debt.
- Bottom color scams are scammers or scammers who prey on vulnerable and unemployed individuals by making false promises about making large sums of money through means such as working from home, changing mortgages, and reducing debt. Is a fraudulent claim by.
- In 2010, following the Great Depression and the subprime mortgage crisis, FTC launched Operation Bottom Dollar to crack down on fraudsters targeting desperate job seekers.
- The FTC identifies two major warning signs when identifying scams under $ 1. It is a prepaid requirement and a guaranteed work promise.
Understand bottom dollar scams
The bottom dollar scam is also known as the “last dollar” scam by the Federal Trade Commission (FTC), a US consumer protection watchdog. This is because they claim that their bizarre promise is a solid plan that individuals can bet on themselves. The last dollar. Such scams are particularly terrible because they target people who may be in financially difficult times due to unemployment or illness, and the victims of such scams are often hopeless. It makes the situation worse.
In 2010, following the Great Depression and the subprime mortgage crisis, FTC launched Operation Bottom Dollar to crack down on fraudsters targeting desperate job seekers. Since then, the unemployment rate has fallen sharply, but the FTC continues to chase the bottom scammers.
Types of bottom dollar scams
At the root of many bottom dollar scams is the classic prayer. For example, in June 2018, a federal judge persuaded a federal judge to shut down a company called MOBE (My Online Business Education) that promised to teach people how to create their own internet business and get rich. bottom. After an initial cost of $ 45, the “student” was hit by a total of thousands of dollars in marketing, and the student experienced thousands of dollars in debt.
The FTC identifies two major warning signs when identifying scams under $ 1. It is a prepaid requirement and a guaranteed work promise. Keep in mind that the lowest level scams can take many forms, some of which include:
- Job ads that appear in job ads in publications: These tend to give the scam an air of legitimacy and are intended to provide real work opportunities.
- Work-at-home scheme: The most popular of these are schemes that involve envelope filling and craft assembly.
- Employment list service: Some scams offer job seekers access to exclusive job listings in exchange for prepaid fees.
- Government work: Some minimum scams provide access to government work for a large amount of money. Applying for a US government job does not require prepayment, so the FTC warns consumers to stay away from such scams.
To avoid getting caught up in the lowest scams, the FTC recommends that future job seekers ask a lot of questions and check with the Better Business Bureau about complaints about the entity that offers the job. ..