Weve just heard, though, that scammers are trying to get into the act, using fake checks that look like the real one. . In these cases, we send an email from the FTC (subscribe@subscribe.ftc.gov) to payment recipients prior to payment. They are often printed with the names and addresses of legitimate financial institutions. The Federal Trade Commission Act authorizes this information collection for purposes of managing online comments. They do not belong to or represent views of the Federal Trade Commission. They tell you to send some of the money back to them or to another person. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. about the $505 million in checks going back to 1.1 million people who got an online payday loan from a company affiliated with AMG Services. The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. Looking for legal documents or records? Search the Legal Library instead. This message is not new. Looking for legal documents or records? Learn more about your rights as a consumer and how to spot and avoid scams. The site is secure. Bigotry, over aggressiveness, conflicting ideologies, partisan beliefs, history revisionism and questioning fact were used as input. Whatever it can or cant do, AI is important, and so are the claims you make about it. More than. Looking for alternatives for your holiday shopping? Consumer Sentinel data contains millions of reports from people who contacted the FTC, the Better Business Bureau, or other federal, state, and local law enforcement offices about fraud or bad business practices. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. And at the FTC, one thing we know about hot marketing terms is that some advertisers wont be able to stop themselves from overusing and abusing them. A computer takes over a spaceship. It can take weeks for a bank to figure out that the check is a fake. It a stationary object, we see it action path cross that about to happen. We don't edit comments to remove objectionable content, so please ensure that your comment contains none of the above. Refund checks will expire on August 3, 2022 (90 days after being sent.) AI hype is playing out today across many products, from toys to cars to chatbots and a lot of things in between. Heres what to know about fake check scams. The FTC provides answers to common questions about refund payments onour FAQ page. Completely agree that movies and media have caused an unfortunate and exaggerated view of AI. We wont post off-topic comments, repeated identical comments, or comments that include sales pitches or promotions. Whether it's a refund scam promising to get your money back or a recovery scam claiming to get you the prize or products you were promised . This article do apply to all the trendy or great KPI messages Marketing people provide: Marketing claims should be backed and supported by evidence and proof points. To file a detailed report about a scam, go to. Whenever possible, the FTC uses the money it collects from defendants to provide refunds to injured consumers. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. If the card you used is not on this list, you might find the gift card companys contact information on the card itself. After settling with First Data Merchant Services the payment processor that made it possible for this company to collect credit card payments the FTC is sending customers of E.M. Systems & Services 100% of their lost money back. To file a detailed report about a scam, go to. to remember what Forbidden Planet / Lost in Spaces Robby the Robot said . But the fact is that some products with AI claims might not even work as advertised in the first place. Before sharing sensitive information, make sure youre on a federal government site. We currently contract with four companies: The FTC never requires you to pay upfront fees or asks you for sensitive information, like your Social Security number or bank account information. According to the FTC case, Avant falsely advertised to customers that it would accept loan payments by card. It is your choice whether to submit a comment. Phishing scams are still prevalent. The FTC is sending PayPal payments totaling $4.7 million to 338,189LifeLock customers who were membersbetween 2012 and 2014. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. . Find legal resources and guidance to understand your business responsibilities and comply with the law. If you get a PayPal payment, please accept it within 30 days. Federal government websites often end in .gov or .mil. You are driving down a rod you see a guy waiting to cut across to get to the other lane so you see him look the other way and see a whole line of car coming so you slow down as you know he was inching forward. If you were a little too jolly with your holiday spending, here are some tips to help you pay down your credit card debt. Thanks, Your comments above are So Well stated. Heres what you need to know if you get a check from the FTCs settlement with AMG: Has someone asked you for something in exchange for your AMG refund check? This was almost too well said maybe they used a chatbot to edit? An official website of the United States government. We work to advance government policies that protect consumers and promote competition. Learn about getting and using credit, borrowing money, and managing debt. By that time, the scammer has any money you sent, and you're stuck paying the money back to the bank. Checks can be verified online at www.ftc.gov/AMG. We use this information to send refunds. . We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. If you think you can get away with baseless claims that your product is AI-enabled, think again. Investors appetite for high-tech driven frenzy should not override balanced caution and common sense. Unless they figure out WHO IS GOING TO DO THAT IN THE FUTURE, will not this whole technology continue to go off the rails and be very dangerous in the wrong hands? We work to advance government policies that protect consumers and promote competition. Marketers should know that for FTC enforcement purposes false or unsubstantiated claims about a products efficacy are our bread and butter. In cases where the FTC is required to report payments to the IRS, the agency will include a 1099 tax form with your check. An official website of the United States government. They do not belong to or represent views of the Federal Trade Commission. The message says theres something wrong with Its Cyber Security Awareness month, so the tricks scammers use to steal our personal information are on our minds. I'd expect the SEC, FBI, CIA, and especially the FTC to have the most advanced tools to vet and locate rule breakers. If someone claims to be from the FTC and asks for money, its a scam. We wont post threats, defamatory statements, or suggestions or encouragement of illegal activity. Its not uncommon for advertisers to say that some new-fangled technology makes their product better perhaps to justify a higher price or influence labor decisions. We wont post comments that include personal information, like Social Security numbers, account numbers, home addresses, and email addresses. The refund checks in total will amount to more than $644,000. The FTC reports how much money was returned to consumers, how much was spent on administrative costs, and how much was sent to the U.S. Treasury when there were leftover funds, each year and for every case, on the agencys Refunds Dashboard. We told you last month about the $505 million in checks going back to 1.1 million people who got an online payday loan from a company affiliated with AMG Services. If we do not have all the information we need to send refunds, we may request that consumers file a claim. Are you aware of the risks? If you get a check, please cash it within 90 days. The FTC is sending almost $25 million in refund checks to over 240,000 people who lost money as a result of a sweepstakes scam run by Next-Gen Inc. Next-Gen allegedly promised cash prizes to customers to participate in sweepstakes or "game of skill" contests. A total of 17,367 checks worth more than a total of $3.7 million are being sent to borrowers from an FTC settlement with Avant LLC. How do I file a claim? The .gov means its official. After letting those initial feelings subside, I think it is a great article and I have sent it to several DOD friends. I went through your questions and our process conforms to them, we say that AI isn't magic, it is math. Learn about getting and using credit, borrowing money, and managing debt. If you get a refund from the FTC, just deposit or cash the check within 60 days. If theres one constant among scammers, its that theyre always coming up with new schemes, like the Google Voice verification scam. We review all comments before they are posted, and we wont post comments that dont comply with our commenting policy. Because the FTC recovered additional money from the defendants, the agency is sending a second round of payments. FTC attorneys and other staff are paid a salary from the agencys annual budget. Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, Refund Programs: Frequently Asked Questions, I received a payment or claim form from the FTC. Here are some examples: These scams work because fake checks generally look just like real checks, even to bank employees. The Federal Trade Commission Act authorizes this information collection for purposes of managing online comments. You can find the phone numbers for current FTC refunds programs at ftc.gov/refunds. The comments posted on this blog become part of the public domain. To find out which recent FTC cases led to refunds, and who to contact with questions, check out, . Before sharing sensitive information, make sure youre on a federal government site. We wont post comments that include vulgar messages, personal attacks by name, or offensive terms that target specific people or groups. Federal government websites often end in .gov or .mil. Learn more about your rights as a consumer and how to spot and avoid scams. Because there is still money in the fund, the FTC is sending another round of payments to people who previously cashed a check or accepted a PayPal payment and have a valid email address on file. It is our goal to send payments within 6 months of receiving the data and money necessary for distribution. Fake calls from Apple and Amazon support: What you need to know, The Google Voice scam: How this verification code scam works and how to avoid it, Show/hide Shopping and Donating menu items, Show/hide Credit, Loans, and Debt menu items, Show/hide Jobs and Making Money menu items, Money-Making Opportunities and Investments, Show/hide Unwanted Calls, Emails, and Texts menu items, Show/hide Identity Theft and Online Security menu items, If you lost money in a scam, you might get a call or email from someone claiming that they can help you recover your funds , targeting people who lost money to tech support scams, claiming to be from the FTCs Refund Department or Refund Division, If the FTC contacts you about a refund, youll find information about the case at, doTERRA distributors charged with making unfounded COVID-19 cure claims, Tenant screening practices: the FTC wants to learn more. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. The comments posted on this blog become part of the public domain. In one version of the scam, you get a call and a recorded message that says its Amazon. After that and some critical thinking, folks can ask the questions you laid out above and make their judgements. . Federal government websites often end in .gov or .mil. Consumers who receive checks should cash them by August 17, 2022. If you believe you have been affected by an FTC case that is not listed at ftc.gov/refunds, you can file a complaint at reportfraud.ftc.gov. Make smart shopping decisions, know your rights, and solve problems when you shop or donate to charity. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. 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