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Top 10 Marketing Cons Exposed..................By Rachael Crofts, PA

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The top 10 scams aimed at swindling UK consumers were today identified by the Office of Fair Trading at the start of a month-long campaign to protect the public.UK consumers lose an estimated £1 billion per year to a variety of cons which exploit low-cost, mass-marketing techniques to target recipients.

Many of these originate from overseas, making detection and prosecution more difficult, the OFT said.It has joined forces with law-enforcement agencies in more than 30 countries to tackle scams which originate outside the UK borders.

Consumers need to be on the alert for the following approaches:

Telephone lottery scams – these include the Canadian lottery scam and the El Gordo Spanish lottery scam, which deceptively uses the name of a genuine lottery.Prize draw, sweepstakes and foreign lottery mailings – many typical scams take the form of prize draws, lotteries or government payouts. Most appear to be notification of a prize in an overseas draw or lottery in return for administration or registration fees.

Premium rate telephone number scams – notification by post of a win in a sweepstake or a holiday offer includes instructions to ring a premium rate 090 number to claim your prize.Investment related scams – an unsolicited telephone call offering the opportunity to invest in shares, fine wine, gemstones or other soon-to-be rare commodities.

Nigerian advance fee frauds – an offer via letter, email or fax to share a huge sum of money in return for using the recipient’s bank account to permit the transfer of the money out of the country. Pyramid schemes – offer a return on a financial investment based upon the number of new recruits to the scheme. Investors are misled about the likely returns as there are not enough people to support the scheme indefinitely – only the people who set up the scheme are able to make any money.

Matrix schemes – are promoted via websites offering expensive hi-tech gadgets as free gifts in return for spending £20 or similar on a low-value product such as a mobile telephone signal booster. Consumers who buy the product join a waiting list to receive their free gift. Credit scams – another advance fee fraud, originating in Canada. Advertisements have appeared in local newspapers offering fast loans regardless of credit history.

Property investment schemes – would-be investors attend a free presentation and are persuaded to hand over thousands of pounds to sign up to a course promising to teach them how to make money dealing in property. Work-at-home and business opportunity scams – often work by advertising paid work from home but which require money up front to pay for materials, or by requiring investment in a business with little or no chance of success.

Christine Wade, director of consumer regulation enforcement at the OFT, said: “Scammers are resourceful, enterprising and manipulative. By exploiting the same routes to market as legitimate business, they damage not only individual consumers, but the interests of fair-trading businesses as well. “We will continue to work with our partners within the UK and overseas to enforce the law against perpetrators of these misleading and fraudulent schemes, and to provide the public with the knowledge and skills they need to recognise these scams.”

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