1300 586 489    Get SUPPORT

Lumity Technology Solutions Blog

Lumity Technology Solutions has been serving the Success area since 2016, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Tip of the Week: Victims Of November 2014 Scam Can Get Fraction Of Funds Back

Tip of the Week: Victims Of November 2014 Scam Can Get Fraction Of Funds Back

In November of 2014, the Federal Trade Commission announced that “two massive telemarketing operations” had been temporarily shut down after collecting over $120 million by “deceptively marketing computer software and tech support services.” It wasn’t long before these companies lost significant court judgements to the FTC, but by then, the money was gone.

Naturally, this does not bode well for those who were scammed of that money.

The Story
In December of 2016, the FTC came to a settlement with Advanced Tech Support, one of the perpetrators of these scams. This settlement recovered $10 million of the company’s ill-gotten gains.

Advanced Tech Support had been running the old scam where they would push the sale of their ‘services’ by telling their customers/victims that their computers were infected--when they weren’t--to get them to call Advanced Tech Support. Once they called, these victims were coerced into signing up for tech support subscriptions that did little more than drain hundreds from their bank accounts.

Advanced Tech Support is permitted to continue business, but they will have to pay to have a court-appointed monitor make sure they don’t slip back into their old ways, in addition to the $10 million settlement mentioned above.

Why Victims May Be Out of Luck
As it would turn out, that $10 million settlement may very well be what is to be used to pay back the victims of these scams. Another company was ordered to pay $36.4 million, but were unable to due to lack of funds. This company wound up having to relinquish all of their assets as a term in the case settlement.

When all's said, and done, victims of these scams may be refunded somewhere below 10% of their total losses.

While our hearts go out to the victims, we can’t help but wonder what would have happened if this scam had been leveraged against a business. Jobs would be lost, clients alienated, and the business would have failed long before the case would get to trial.

Taking this into consideration, you need to ensure that your business is protected against scammers like these, and that your employees have a trustworthy source of support that they can rely on. We can help. Call Lumity Technology Solutions at 1300 586 489 to learn more.

Why Boarding Pass Selfies Are A Really Bad Idea
Make Sure Your Software Is Licensed, Or The BSA Ma...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Wednesday, 20 September 2017
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Tip of the Week Security Privacy Business Computing Backup Cloud Best Practices Cloud Computing Settings Saving Money Email Small Business Access Control Business VoIP Passwords Software IT Services Physical Security Copy Website App Office Paste Licensing Smartphones Law Enforcement Technology Twitter Entertainment Hardware Efficiency Scam Dark Web Hosted Solutions Files Two-factor Authentication Vulnerability Business Intelligence Travel Outsourced IT Politics Tech Support Data Management Apps Communications Education Managed IT Gadgets Cybersecurity Google Drive Live Streaming Tip of the week Smartphone Innovation Telephone Systems Miscellaneous User Tips Google Business Continuity Battery Multi-Factor Security Retail IT Support Remote Control Wi-Fi Data Recovery Word Computer Microsoft Managed IT Services Spam Blocking Router How To Hosted Solution Alert Email Management Data Backup Customer Relationship Management Emergency IP Address Office 365 Remote Monitoring Customer Service Mobile Office Domains Hard Drives Spam Mobile Device Management Mobile Devices Public Speaking Lithium-ion battery Augmented Reality Data Safety Productivity The Internet of Things Hiring/Firing Budget Browser Competition Fun Big Data Users Employer-Employee Relationship Productivity Upgrade Social Media Virtualization Wireless WhatsApp Search Windows 10 Internet Server VoIP Presentation Cortana Communication 5G Wireless Technology Managed Service Provider IBM Marketing Hacker Microsoft Office Hackers

Newsletter Sign Up