It’s no surprise that financial advisors have a bad reputation among the wealthy, middle class and poor. Why? Because of malpractice and cases of negligence that have have come to light in recent times.
Consumer Fraud Forum Blog
Anyone can be a financial advisor since there are no specific qualifications nor does a person need to be registered. How do you know they are not amateurs or scammers, when you are looking for guidance and support on your investments?
We recently told you about a 60 Minutes report that highlighted a disturbing life insurance industry practice: the witholding of payments owed to a significant number of beneficiaries.
Financial fraud is nothing new, it has been around for thousands of years. But thanks to the digital age financial fraud has never been easier than ever. Learn some of the hard core facts about financial fraud in the digital age with this infographic from the New England College.
Audits of the nation's leading insurance companies have uncovered a systematic, industry-wide practice of not paying significant numbers of beneficiaries.
Debt collectors illegally raked in $31M from struggling customers trying to pay overdue bills. Fifteen employees were charged with using threats and deception towards the consumers, many of whom are elderly and/or disabled.
Today is the deadline for retailers to adopt scanners for new credit cards that contain a computer chip. These new cards (armed with so-called EMV technology, which stands for Europay, Mastercard and Visa,) are said to add another layer of security.
The Federal Trade Commission has banned several payday loan operators from the consumer lending business after exposing them in a scheme that bilked millions of dollars from people trapped into unauthorized loans.
Because of a new way of depositing checks, banks can possibly cash a check you've written twice. If that happens, you could be double-paying.
Here's how - many banks these days have new technology known as "remote deposit capture." This is a way for people to deposit checks via a mobile device, by taking a...
One would think that the rich and famous have good, trustworthy people to advise them on what to do with those giant piles of money. But, that's not always the case. Even sports stars can be swindled out of significant chunks of money.
That's just what happened to Tim Duncan, power forward of the San...