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What is a scam?

What is a scam?. scams are schemes designed to con you out of cash they come in many forms there are many different approaches 'there's a scam for everyone'. What are the main scams?. fake foreign lottery deceptive prize draw or sweepstake get-rich-quick schemes investment scams

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What is a scam?

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  1. What is a scam? • scams are schemes designed to con you out of cash • they come in many forms • there are many different approaches • 'there's a scam for everyone'

  2. What are the main scams? • fake foreign lottery • deceptive prize draw or sweepstake • get-rich-quick schemes • investment scams • miracle cures • clairvoyant scams

  3. How much is lost to scams? According to Office of Fair Trading research • UK consumers lose an estimated £3.5 billion to scams every year • average amount lost per victim is £850 • equivalent to around £70 per year for each adult living in the UK According to Office of Fair Trading research • UK consumers lose an estimated £3.5 billion to scams every year • average amount lost per victim is £850 • equivalent to around £70 per year for each adult living in the UK

  4. Where do the loses occur? According to Office of Fair Trading research • £1.2 billion to bogus holiday clubs • £490 million to high risk investment scams • £420 million to pyramid and get-rich-quick schemes • £260 million to fake foreign lotteries

  5. How large is the problem? According to Office of Fair Trading research • almost half the UK adult population has been targeted by a scam • 3.2 million adults - 1 in every 15 people - fall victim to scams each year • highest percentage of victims is aged between 35-44

  6. What are the long term effects? According to Office of Fair Trading research • people can end up losing their life savings to scammers • around a third of victims fall prey to another scam within 12 months • victims' details are added to so-called 'suckers lists' which are sold to other fraudsters • victims may also suffer from stress, relationship and health problems brought on by losing money

  7. How to avoid being scammed • don't be pressured into doing anything immediately • if you receive an offer that sounds too good to be true from someone you don’t know, think very carefully • if you're unsure speak to family or friends • if you do lose money to a scam always report it to the authorities. They may not be able to get your money back but they can help stop others falling victim

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