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Cashier’s Check Scam – FTC Fines MoneyGram October 28, 2009

Posted by Ann Michaels & Associates in Uncategorized.
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Good news for the mystery shopping industry! On October 20th, the Federal Trade Commission (FTC) fined MoneyGram $18 million and have been ordered to launch an anti-fraud program. This is related to the cashier’s check scams that we posted about late last year.

The FTC stated that “that the company allowed its money transfer system to be used by fraudulent telemarketers to bilk U.S. consumers out of tens of millions of dollars.”  Between 2004 and 2008, approximately $84 million was wired through the use of fradulent telemarketers and other con artists.

While this is not solely focused on mystery shopping, it has been a huge problem across the board. This is great news, and hopefully the first step in solving this issue.

You can read the entire press release from the Federal Trade Commission.

Until next time…happy shopping!



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