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February is Fraud Awareness Month - Fraud: Recognize it; Report it: Stop it! |
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(February 15, 2005) – The Business Practices and Consumer Protection Authority (BPCPA) has received a certificate of appreciation from the Federal Bureau of Investigation for exceptional service in the public interest.
The BPCPA has been working closely with the FBI, as well as the RCMP, the Competition Bureau Canada, and the US Federal Trade Commission in Project Emptor, a task force which investigates fraudulent BC-based telemarketers. Most scams investigated by the task force targeted elderly people living in the U.S. Recently, the BPCPA participated in the seizing of assets from deceptive telemarketing companies which resulted in the restitution of over $1.9 million in compensation to consumers that were defrauded.
Fraudulent telemarketing is a growing problem with cross-border implications from telemarketers in Canada defrauding consumers in the United States, Australia, the UK and other countries. It is estimated that consumers lose in excess of a billion dollars a year to fraudulent telemarketing scams based in British Columbia. The types of fraudulent activities include bogus lottery prize scams, savings bond sales and credit card protection schemes.
The provincial government is currently developing new licensing regulations for telemarketers to further reduce the risk of fraud.
The BPCPA, through groups such as Project Emptor, is committed to ensuring that those who are involved in fraudulent activities do not prey on unsuspecting consumers across borders and do not profit from their activities.
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