Notice of Proposed Rulemaking Seeking Public Comment on Proposal to Ban Payment Methods Favored in Fraudulent Telemarketing Transactions; FTC Matter No: R411001 #00008

Submission Number:
00008
Commenter:
Justin Michalik
State:
Missouri
Initiative Name:
Notice of Proposed Rulemaking Seeking Public Comment on Proposal to Ban Payment Methods Favored in Fraudulent Telemarketing Transactions; FTC Matter No: R411001
I witness, first hand, the damage prepaid money cards do to our consumers. I support the FTC's decision to ban these payment methods because I listen to consumers, varying in age from 18-99, every day that have been affected by these methods of payment. I listen to these consumers express anger, frustration, and even cry after learning they have lost their hard earned money. Consumers are left in the dark when utilizing these types of payment methods. When a struggling consumer wires money or purchases a prepaid credit card to send money to a Jamaican lottery scammer, they aren’t made aware of the risks they are taking. These payment methods lack the security and responsibility needed in order to promote a safer, more truthful marketplace and enable scam artists and unethical businesses to profit easier. Paying with a money order or prepaid credit card does not offer you any recourse should the deal go bad. Many consumers have wired large amounts of money to scam artists in different countries in hopes of receiving even larger amounts back. What they are left with is empty pockets and the feeling of being fooled with no way to receive any justice. The FTC’s decision to ban these payment methods will ensure a safer marketplace where consumers have less to worry about when making a purchase and deter scam artists and unethical businesses, taking away one more avenue of profit for them. This action is long awaited, much needed, and much applauded by consumer advocacy organizations everywhere.