Consumer scams are like gremlins. They keep turning into something else.
A relatively new scam involves scammers posing as representatives of the Consumer Financial Protection Bureau (CFPB), a legitimate federal agency that protects consumers.
According to Squared Away Blog, “The CFPB has confirmed a new scam where someone claiming to be from the agency contacts individuals and tells them they are eligible for a class action payout. On one condition: to collect the money, the scammer says that the taxes due must be paid in advance. »
This modus operandi is typical of an impostor scam. They always want their money up front.
“The CFPB impostor scam seems vaguely believable since the story told to the victim is similar to the real mission of the agency. The mission of the CFPB, created after the collapse of the subprime mortgage market, is to unmask the scams of financial companies and to obtain restitutions to compensate the victims of their losses.