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Principles of Accounting 2101

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8 April 2004Internet AssignmentBusinesses and people alike lose millions of dollars each year as aresult of telemarketing scams. Due to the ease creating a telemarketingscam many people are skeptical to even hear what an actual telemarketer istrying to sell. People can help protect themselves by learning thefundamentals of detecting a potential fraud. The most important thing to doif victimized by fraud is to contact law enforcement agencies promptly.

This way they can try to shut down the organization or undergroundoperation as quickly as possible.

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Some widely used telemarketing scams arefor fraudulent credit cards, supposedly free vacations, and pyramid sellingschemes. Another type of fraud is Internet fraud. With the rapid growth ofthe Internet there is likewise a growth in Internet scamming. Many of thetelemarketing scams are also scams to beware of on the Internet. Scams likethe pyramid scheme, fake credit cards, and free vacations are also on theInternet.

A general rule of thumb, when dealing with a telemarketer, is to makesure the company is legitimate.

If someone is unsure he or she shouldcontact the Better Business Bureau to find out. If the agency will notdisclose key information about their business or the details they do givedon’t sound right then once again contact the Better Business Bureau. Also,telemarketing scams often promise “easy money” that can be received withdoing next-to-nothing. If people could truly receive money for doingnothing then everyone would be involved in this lucrative operation.

Something to keep in mind about credit card issuing companies is that mostlegal agencies will not deal with people that have bad credit. So if acompany guarantees a credit card no matter the credit rating then moreoften than not the operation is a scam.

Many of the scams perpetrated by telemarketers are the same ones downon the Internet. Some tips to avoid having money stolen because of a scamare to make sure the company is a legitimate company. Like withtelemarketing scams, contact the Better Business Bureau about anythingsuspicious. Also, try to look for information on how complaints are filedand handled. While it may be tedious to find information about companieslocated in foreign countries, most companies actively participate inprograms that have standards for dealing with complaints. Another thing tolook out for is that just because they have no complaints doesn’t mean theysatisfy all their customers. Most scam operations open and close quickly toavoid detection. When reading much e-mail don’t take it for granted thatone saying it is from a legitimate company actually is. Anyone can say theyare from a company; make sure they are really from the company they claimbefore sending any personal information.

Basically, this web site offers valuable information on differenttypes of scams and ways to avoid being scammed. With four main types ofscams, this web site goes in depth on different scams out there to watchout for. Within each category of fraud there are many examples and tips onwhat they claim to offer and what they really do offer. Lastly they havedifferent ways to report potential and actual fraud. The site lists anumber to call to report the incident and also has an online form to fillout to report the fraud. After looking over this web site no one shouldfall victim to any type of fraud.

Cite this Principles of Accounting 2101

Principles of Accounting 2101. (2019, Apr 17). Retrieved from https://graduateway.com/principles-of-accounting-2101/

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