Telemarketing is a popular industry where buying and selling happen over the telephone. Telemarketing scam is popularly known as telemarketing fraud, telephone fraud, and telephone scam.
Telemarketing scam is one of the most popular and well-known scams identified by the federal trade commission. Most of the telemarketing frauds go unnoticed and unreported due to embarrassment that prevents the victims from furnishing the information. The majority of telemarketing scams is targeted at elderly people as they are more promising and trustworthy when compared to other age groups. Older people tend to easily believe the false claims made by the scammers. It is reported that 80% of the successful telemarketing frauds are targeted at elderly people.
Certain users voluntarily register for telemarketing services, while others are targeted via emails and from telephone number directories.
Definition of telemarketing scam:
Telemarketing scam is a fraudulent activity where the scammer tries to contact the victim via a telephone call trying to sell a product or a service that appears to be too good. The ultimate aim of the scammer in telemarketing scam is to gain the user's credit card information.
Ways to identify telemarketing scam:
Usually, telemarketing scam is difficult to detect. There are many legitimate companies that are using telemarketing as a service to sell their products and services. There are certain points that usually show signs of telemarketing fraud.
Various forms of Telemarketing scam:
• Advance fee telemarketing fraud:
Often the scammers on telemarketing calls ask for an advance fee to be made until the product or the service is delivered to the user. They claim that the advance fee will be returned to the user on the arrival of the product/service.
• Pyramid telemarketing scheme:
Telemarketing criminals lure users into pyramid schemes making them show attractive amounts that the users will earn upon referrals that bring in, in the end; there is no gain the user makes in the pyramid scheme.
• Fake checker telemarketing scam:
Scammers use names of legitimate businesses and claim to users that they are overpaid in an online sale. They send fake checks to the victims and ask them to wire back the extra amount via a telemarketing call. After the user wires the extra amount back to the scammer, they realize that the check they received is a bogus fake check. There is no way the users can retrieve the money that is lost.
• Telemarketing donation scam:
Fake telemarketing scam callers call victims claiming to be from charity organizations asking for donations to support and appearing to be legitimate cause. The scammer takes the credit card information of the user who believes the call to be a legitimate one.Users are advised to be very careful when dealing with telemarketing callers. It is best practices to cross check the company information before closing any transaction on telemarketing calls.