Consumer Alert: Scam warning as big settlements start to pay out
Tens of millions of dollars are being re-paid to victims of fraud. The Federal Trade Commission says checks are in the mail--but they also warn that scammers may be taking this opportunity to try to steal your money.
The legitimate checks are from two separate cases. The first is a $31 million settlement with the company Lifelock. The second is a $2.7 million fraud lawsuit with Pro Timeshare Resales LLC, J. Williams Enterprises.
The FTC says Lifelock falsely advertised that it protected sensitive customer data with the same high level safeguards used by financial institutions.
to learn more about the Lifelock refund.
The FTC is sending out more than 8,000 checks to people who paid an upfront fee to sell timeshares. Pro Timeshare Resales falsely claimed it had a buyer and could quickly sell a timeshare.
to learn more about the refund.
With this announcement comes a warning. Scammers will try to take advantage of your good fortune.
Here's how you tell if a refund check is legitimate:
Visit the website
The website lists recent refunds--the Lifelock case and the J. Williams Enterprises timeshare case are at the top of the list. Click on them and check out all the information listed.
The FTC will never call and tell you to pay fees. They'll never ask you for personal information like a Social Security number or bank account information. Those are all red flags for a scam.