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Deception and Fraud

Deception and Fraud. Deception vs. Fraud. Deception Exaggeration Legal Misleading Fraud Deliberate Unlawful extremes. Deception. Trading Up Sale Price Suggested Retail Price Loss Leader. Fraud. Statement is fraudulent if: Person making statement KNOWS it’s false

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Deception and Fraud

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  1. Deception and Fraud

  2. Deception vs. Fraud • Deception • Exaggeration • Legal • Misleading • Fraud • Deliberate • Unlawful extremes

  3. Deception • Trading Up • Sale Price • Suggested Retail Price • Loss Leader

  4. Fraud • Statement is fraudulent if: • Person making statement KNOWS it’s false • Purpose of statement causes others to give up some value • Proving fraud is difficult • Was it a mistake? • Was there intent? • Best advice is to avoid fraud

  5. When it seems too good to be true…

  6. …it probably is!!

  7. Types of Fraud • Bait and Switch • Pyramid Schemes • Chain letters • Memberships, not products • Airport scheme • Telephone (& Internet) Fraud

  8. Pyramid Schemes

  9. Too good to be true Request for credit card or ss# Buy for something free Refusal to send written confirmation or information Pressure to act now or offer expires Refusal to identify themselves or company Refusal to provide company info (phone, address) Telephone Fraud

  10. More Faces of Fraud • Health-care products that cure • Home improvement charging fees up front • Vacation clubs promising cheap vacations • REALLY inexpensive repair work • Weight loss programs appearing unrealistic • Piggyback scams

  11. Protect Yourself • Be skeptical! • Ask questions! • Research companies • Research products • Use your head, not your “heart”

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