5.6 - Consumer Protection

"your account has been accesed" is a sentence that can be sent to you by crooks to make you click on a link in an email.

• False

• True

Match the type of fraud: Kyler learned her identity had been used during an arrest, but she hadn’t been arrested.

• Tax

• Investment

• Identity Theft

• Communications

• Credit

Match the way fraud may occur in the scenario: A scammer has attached a device to a gas pump to access credit card information.

• Computer

• Skimming

• Phishing

• Stealing

• Diverting mail

What is ponzi scheme?

• Extortion is a crime in which one person forces another person to do something against his will, generally to give up money or other property, by threat of violence

• The selling of false things/tickets/items in order to gain free money

• a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors

• Promoting false advertisement and propaganda in order to bait people into buying the product

In a Pyramid Scheme, most of the commissions you get paid for recruiting others goes to the people above you who recruited you.

• True

• False

Agency that is responsible for protecting consumers from unfair or deceptive business practices.

• Federal Trade Commission

• Better Business Bureau (BBB)

• Consumer Product Safety Commission

A situation in which there is only one company that sells a specific product or service.

• Trading up

• Redress

• Monopoly

To seek and receive a remedy to a problem

• Small claims court

• Bait and switch

• Redress

A nonprofit agency sponsored by local businesses that helps to resolve disputes between consumers and sellers.

• Federal Trade Commission (FTC)

• Walmart

• Better Business Bureau (BBB)

Who regulates stock market exchanges?

• congress

• securities and exchange commission

• Christian Garcia

• New York stock exchange