What common consumer fraud schemes should I be aware of?

As a resident of South Carolina, it is important to be aware of common consumer fraud schemes. One common scheme is called bait and switch. This occurs when a business advertises one product or service but delivers a different, and usually inferior, product or service. For example, a business may advertise a quality product at a low price but then switch to a lower quality product once the customer arrives to purchase it. Another common fraud scheme is known as misrepresentation. This occurs when a business provides false information to a consumer in order to induce them to purchase a product or service. For example, a business may mislead a customer into believing that a product has a certain feature or capability, when in fact it does not. Another common fraud scheme is called false advertising. This occurs when a business makes false claims about the quality or quantity of a product or service. For example, a business may falsely advertise a product as being able to do something that it does not or claim that a product can cure a health condition when there is no scientific evidence to prove this. Finally, consumers should be aware of pyramid schemes. These occur when a business requires participants to purchase products or services in order to join or advance in the company. Pyramid schemes usually require participants to recruit new members to the scheme in order to make money. All of these fraud schemes should be avoided to protect consumers from financial harm.

Related FAQs

What are the effects of consumer fraud?
What common consumer fraud schemes should I be aware of?
What types of consumer fraud are the most commonly reported?
How do I find out if a company has been involved in consumer fraud?
What should I do if I am contacted by a debt collector?
What are the differences between federal and state consumer protection laws?
What is telemarketing fraud?
What consumer fraud hotlines are available?
What legal remedies are available for victims of consumer fraud?
How can I protect myself from telemarketers?

What common consumer fraud schemes should I be aware of?

Related FAQs

Related Blog Posts