Archive for April, 2008

Florida Senate Passes Mortgage Fraud Bill

Filed April 30th, 2008 joshua

The Florida State Senate passed a bill which could land mortgage scammers in prison for up to 15 years, the South Florida Sun-Sentinel reports. The penalty could be levied on any scammer committing any form of mortgage fraud, including inflating the price of a home for a loan. This practice is a common way used […]

Wachovia Telemarketing Abuse on Senior Citizens Costs $144M Settlement

Filed April 30th, 2008 Julie Ann Fidler

Wachovia has agreed to pay as much as $144 million to settle a federal probe into its relationship with telemarketers who preyed on senior citizens, Consumer Affairs reports on its website. According to Consumer Affairs, this is the second-biggest settlement ever for the Office of the Comptroller of the Currency (OCC), the agency that regulates […]

Credit Card Skimming a Growing Problem

Filed April 29th, 2008 joshua

According to the article, the restaurant industry is plagued with the highest incidence of credit card skimming, the practice of swiping a credit card through a device to record the magnetic strip data for the creation of fraudulent credit cards. To prevent this from happening to your credit cards, the advocacy group Consumer Action and […]

America’s Best Mortgage Services Owner Sentenced for Mortgage Fraud Worth $37M

Filed April 29th, 2008 Julie Ann Fidler

The owner of America’s Best Mortgage Services in Coconut Creek, who organized a $37 million mortgage fraud scheme surrounding condominiums in South Beach, has been sentenced to nine years in prison. U.S. District Judge Jose E. Martinez also sentenced former title attorney Gary Mills, who owned Deerfield Beach-based Four Star Title, to 46 months; and […]

Google Defrauds Adwords Customers?

Filed April 28th, 2008 Julie Ann Fidler

Adwords, Google’s popular program for allowing advertisers to purchase pay-per-click ads, may be making things a little too confusing for their own good. According to a lawsuit filed in the US District Court in San Jose, CA, one advertiser claims Google’s deceptive system overcharged him for ads he didn’t want displayed on third-party-sites. The complaint […]

Florida Uncovers Mortgage Fraud

Filed April 25th, 2008 joshua

Florida state investigators, working in conjunction with federal help, are beginning to uncover a litany of mortgage fraud scammers using subprime mortgages en route to higher profits. According to the Palm Beach Post, U.S. Attorney for the Southern District of Florida says it’s charged three Palm Beach County residents with mortgage fraud. The three were […]

Former Bristol-Myers Indicted on Charges He Lied to Regulators

Filed April 24th, 2008 joshua

Former Bristol-Myers senior vice president Andrew G. Bodnar was indicted Wednesday on federal charges he lied to the Federal Trade Commission about a pact he made with a Canadian generic drug firm. Charges say Bodnar struck a deal with Canada firm, Apotex, to stop selling its version of Bristol-Myers’ blood thinner, Plavix, the company’s top […]

Life is Good Settles with FTC

Filed April 23rd, 2008 joshua

The online clothing retailer Life is Good, based in Boston, has settled charges it didn’t properly protect consumer’s personal information. FTC voted unanimously Friday to issue the final consent order in the case, according to a report from SC Magazine. Two years ago hackers stole nearly 10,000 credit card numbers from the company’s database, through […]

Misuse of Social Security Numbers Enables ID Theft

Filed April 22nd, 2008 joshua

The Identity Theft Resource Center has counted 167 data breaches in the first quarter of 2008, according to a report in the Louisville Courier-Journal. This alarming trend is leading to a general unease about online security and e-commerce, but this article also suggested several non-Web locations where a Social Security Number is tossed about like […]

Work at Home Scams on the Rise

Filed April 21st, 2008 joshua

The idea of working from home for a living certainly sounds better than the typical 9-to-5, but unfortunately it’s a hook many scammers are using and the bait is finding itself out of money, and in one case, in jail. Reports of scams involving work-from-home offers ranked 13th last year, as reported to the Federal […]