FTC Bans Wire Transfers, Reloadable Cash Cards, And Payment Orders In Phone Transactions

FTC Bans Wire Transfers, Reloadable Cash Cards, And Payment Orders In Phone Transactions

(Nicholas Wang)

We’ve shared warnings about many different types of telemarketing scams, but they all have one thing in common: they extract money from their victims using quick and untraceable methods like wire transfers or prepaid debit cards. Today, the Federal Trade Commission announced an amendment to current telemarketing rules that’s meant to protect consumers from fraud over the phone lines.

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