Download This PaperImpostor Scams
57 Pages Posted: 26 Feb 2020 Last revised: 28 May 2021
Date Written: February 11, 2020
Abstract
Impostor scams have recently become the most common type of consumer scam in America, surpassing identity theft. It has never been easier and more profitable to be an impostor scammer. Though the core of these scams dates back centuries, these fraudsters consistently find novel ways to manipulate human motives and emotions. Nonetheless, the public should not give up hope. Policymakers and private actors can slow down this scourge if they focus on the key chokepoints that impostor scammers rely upon to achieve their ends. This Article provides a roadmap for a solution to impostor scams, offering specific suggestions for mitigating this fraud today, while advocating an adoption of a “least-cost avoider” approach to addressing the whole of the ongoing problem.
Keywords: fraud, consumer law, scams, telephony, FTC, FCC, payment systems, social media
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