What are Consumer Protection and Fraud?
Consumer Fraud Consumer fraud generally encompasses any unfair or deceptive tactics used to illegally lure consumers into buying something. Types of Consumer Fraud • False advertising – misleading a consumer about some aspect of a product, which was an important factor in the consumer’s decision to buy the product. • Bait and switch – luring the consumer in with an unbeatable deal that is no longer available, and then only offering different products. • Pyramid schemes – any promotion or unrealistic return, when the only money you make is the return on the funds of people newly recruited to the system.