U.S. Consumers Lose $ 257 Billion Per Year From Scams and Scams

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August 9, 2021: John S. LaRosa, President of Marketdata LLC, an independent company market research since 1979 has published a book titled: Scam Nation: Tackling the epidemic of more than $ 257 billion of US consumer fraud and scams.

Scam country reveals how cons and scams have grown exponentially in America since 2000, due to the growth of the internet and an economy that hasn’t produced enough good jobs. The book lifts the veil on the biggest scams, how they work, their value, and how consumers can spot and avoid them. It also quantifies, for the first time, the staggering annual cost to consumers ?? between $ 257 billion and $ 337 billion.

“The reader may think that there are other countries where frauds, scams and scams are more prevalent and entrenched in society than in the United States”, such as Russia, Mexico or Nigeria, for example . This is not the case. Because of the number and types of scams, and the scale of the dollar losses, America has become the real “scam nation,” according to author John LaRosa.

Some discoveries:

  • The estimated amount of scams, scams, and frauds annually is between $ 257 billion and $ 337 billion, which is most likely safe as many scam victims do not report them.
  • The growth of the Internet has made it much easier for crooks to reach victims internationally – via email, Facebook, LinkedIn and Craig ?? s List. Of course, they also operate face-to-face and by telephone.
  • Ponzi schemes cost consumers $ 6.3 billion a year. Over 600 other Ponzi schemes have been discovered since Bernie Madoff was revealed.
  • False tax returns cost consumers $ 21 billion in lost refunds per year.
  • Fake psychics and fortune tellers scam consumers to the tune of $ 2 billion.
  • The FTC reports that weight loss products are among the most common types of fraud. Fraudulent lotteries, prize promotions and unauthorized club memberships are also common.
  • Fake prescription drugs cost Americans $ 68 billion a year.
  • Identity theft costs American consumers $ 19 billion a year.
  • Many scams are legal, but scams nonetheless? Car title loans, payday loans, tiered marketing, credit repair, and option-to-buy rental stores. They prey on the uneducated and minorities, either by charging them exorbitant interest rates and fees, or by doing things that consumers can do themselves for free.
  • The SEC, FBI, FTC, and IRS are understaffed and unable to track the number of scams, making it easier for crooks to do their jobs.

Americans are getting ripped off in record numbers? by phone, in person and online. And, the con artist is just as likely to live in Nigeria as in Kansas City. Scam country examines, via 26 chapters: Medicare & Medicaid Fraud, False Income Tax Returns, Roaming Gold Buyers, Ponzi Schemes, Psychics, Romance Scams, Car Titles & Payday Loans, Money Shops leasing with option to buy, food stamps, identity theft, credit repair, collection agencies, worthless dietary supplements, tiered marketing, ATM skimmers, home improvement contractors, scams by Nigerian email, real estate flip, tech support scams, home work, fake charities, fake money, etc. 310 pages.

Author John LaRosa, MBA, is the president of Marketdata LLC, a 42-year-old market research publisher and consulting firm that has published more than 500 in-depth industry and market studies. He has helped Fortune 500 companies, start-ups, investors and entrepreneurs. Mr. LaRosa ?? s research is always impartial and objective, and he has a strong desire to expose unscrupulous people.

Ordering information

Scam Nation can be purchased as a Pdf book for $ 9.95, or as a paperback print version for $ 21.00 (including shipping), from the Marketdata website: www.marketdataenterprises.com. Phone: 813-971-8080. Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647. John LaRosa is available for interviews, webinars, speeches, advice and presentations.

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