International Law

Cross Border Fraud: Inefficient Work

The latest from the FTC about how theFTC andCanadian Law Enforcement Partners Target Cross Border Fraud

Score card?

How much did consumers lose?

"Today, the Toronto Strategic Partnership, of which the Federal Trade Commission is a member, released a paper summarizing the joint law enforcement initiatives undertaken in the last seven years to combat cross-border telemarketing fraud and other mass-marketing fraud. Through their combined efforts, the Partnership has shut down cross-border operations that defrauded nearly two million U.S. and Canadian consumers of more than $380 million"

So, $380 million in the hole.

Now, how much of that was recovered for consumers by the Canadian authorities?

"One component of the Partnership, the Toronto Police Service Fraud Squad's Mass Marketing Unit, is staffed on assignment from different Partnership agencies. 'From the inception of the Partnership, the fraud squad has closed boiler rooms, conducted searches, arrested malefactors, and assisted in prosecutions. At least 644 people have been arrested, and 495 search warrants have been executed. Dozens of boiler rooms also have been closed, and tens of thousands of dollars have been returned to victims,' the paper notes."

Tens of thousands? Why good work! Only in Canada, you say? Pity.

Full post as published by Misleading Advertising Law on January 20, 2008 (boomark / email).