Watch for the New Consumer Agency Disruption | So Good News

Consumer fraud is like gremlins. They keep evolving into something else.

The new scam involves fraudsters posing as representatives of the Consumer Financial Protection Bureau (CFPB), a federal agency that protects consumers.

According to the Squared Away blog, “CFPB has confirmed the existence of a new scam in which someone claiming to be from the agency contacts people and tells them they are entitled to payments in a class action lawsuit. For one thing: in order to collect the money, the scammer says that the taxes owed must be paid in advance.”

This operative procedure it’s the same as fraud. They always want their money up front.

“The CFPB scam appears to be credible because the story the victim is told is similar to the agency’s real mission. The mission of the CFPB, which was established after the collapse of the subprime mortgage market, is to expose the technology of financial companies and recover funds to compensate victims for their losses. “

Did the thieves approach you? Check with the CFPB or report it to the Federal Trade Commission. And don’t send them money or your personal information!