CNNMoney.com
Companies Economy International Corrections Pre-market trading After-hours trading Winners/losers/actives Bonds Currencies Commodities Money Magazine Retirement Mutual Funds Taxes Ask the Expert Money 101 Autos Loan Center Best Places to Live Calculators Mortgage Rates Personal tech Big Tech blog Techland blog Sectors and stocks Fortune 500 techs Tech Talk 100 best places to launch Ultimate resource guide Small biz makeovers FSB 100 Ask & Answer Fortune 500 Technology Investing Management Rankings Main Create portfolio Edit portfolio Create Alerts Edit Alerts

FTC: Half-million tricked by telemarketers

'Operation Tele-Phoney' finds more than 500,000 'victims' of telemarketing fraud.

EMAIL  |   PRINT  |   SHARE  |   RSS
Subscribe to Personal Finance
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

Which are you least satisfied with?
  • Airlines
  • Health Care Firms
  • Restaurants
  • Utilities
Bankrate.com
 
MMA 2.46%
$10K MMA 2.65%
6 month CD 3.10%
1 yr CD 3.54%
5 yr CD 4.11%
Find personalized rates:
 

WASHINGTON (CNN) -- The Federal Trade Commission unfurled Tuesday results of an enormous telemarketing fraud sweep, saying it had filed more than 180 cases that represent thousands of alleged victims and millions of dollars in losses.

The agency said the sweep, named "Operation Tele-Phoney," was the largest telemarketing sweep it had ever coordinated.

"Fraud is one of the worst poisons to commerce, and telemarketing fraud is one of its worst manifestations," FTC Chairman William E. Kovacic told reporters at a news conference.

"The wrongdoers with whom we're dealing are very clever, they're geographically mobile, they're technologically proficient," he said.

The cases included advance-fee loan schemes, credit card scams, "free" gift offers, phony promotional efforts, and scams in which telemarketers ordered people to pay for household goods that they did not order, Kovacic said.

Among the 180 cases were ones against 13 telemarketing operations that have been "allegedly deceptive," the FTC said. The agency has filed federal district court complaints against these 13 operations.

Those operations alone involved more than 500,000 "victims," and more than $150 million in losses, Kovacic said.

The FTC also announced Tuesday a consumer education campaign dubbed, "Who's Calling?" that aims to combat telemarketing scams. To top of page

Features
Alaska's drilling debateEven locals in Alaska's National Wildlife Refuge are divided over the issue of drilling for oil. morevideo
The country could offset some of its oil imports by drilling in Alaska, but some say the whole debate is just a big distraction.  more
Markets Last Change
Dow Jones 11,370.69 21.41 / 0.19%
Nasdaq 2,310.53 30.42 / 1.33%
S&P 500 1,257.76 5.22 / 0.42%
10-year Bond 98 6/32 Yield: 4.09%
U.S.Dollar 1 euro = $1.571 0.000
July 25, 2008 4:03 PM ET
CompanyPrice% Change
Yrc Worldwide Inc 17.29 -14.79%
Regions Financial Corp New 9.03 -11.17%
Eastman Chemical Company 59.95 -9.69%
Reliance Steel & Aluminum Co 62.62 9.46%
Jul 25 3:56pm ET †
The world's priciest foodsWe checked in with gourmet retailers for the rundown on the world's most expensive culinary indulgences. more
GM unveils 'fuel-sipping' CamaroFuel mileage is front and center as Chevy's muscle car gets a makeover for the "green" generation. more
100 Best Places to LivePlentiful jobs, excellent schools, affordable housing - America's best small cities have all that and more.  more


© 2008 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2008 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. All Times are ET.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Hemscott.
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.