Tuesday, August 11, 2020

FTC Consumer Alert: A real or fake savings club?

Consumer Alerts from the Federal Trade Commission

by Karen Hobbs, Assistant Director, Division of Consumer and Business Education, FTC

Imitation is the greatest form of flattery. It's also the greatest form of "scammery." That's why scammers are imitating a type of informal savings club known as a "sou sou" or "susu" to trick people into joining what amounts to an illegal pyramid scheme.

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This is a free service provided by the Federal Trade Commission.

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