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Home Based Business Opportunities and Fraud Article by Lance Winslow
Most Business Opportunity Specialist and Sellers are indeed very legitimate and they work very hard to help their customers with advice, knowledge and the tools needed to succeed in a given business. Of course there is risk and a responsibility of the buyer or consumer to work hard and smart otherwise the risk goes up to potential failure. But like in any business not all practitioners are so honest in the business opportunity (Biz Ops) sector and the Federal Trade Commission (FTC) has identified this as a problematic situation, inferring that some Biz Ops are less than ethical. Indeed they have the data to prove it too. Here is an excerpt on an official public proposed rule making report from the FTC: “The single greatest per capita monetary loss category in complaints reported to the FTC is for business opportunities, including work-at-home schemes.” 67 FR 4492, at 4530 (Jan. 30, 2002) ($15,408,934). Indeed, work-at-home complaints ranked among the top fraud complaint categories submitted to the Commission. For example, during the period studied, work-at-home schemes ranked among the top 20 fraud complaint categories each year:” YEAR RANK COMPLAINTS 1997 5th 1,399 1998 20th 1,653 1999 19th 2,611 2000 18th 3,448 2001 13th 4,852 2002 11th 17,307 2003 9th 16,694 2004 12th 6,485 2005 15th 4,366 The Federal Trade Commission is changing the Biz Op rules to protect the consumer and is now putting together a proposed set of rules to go into affect in the future to stop unethical practitioners in the Business Opportunity field from ripping off consumers. If you are a Business Opportunity Specialist perhaps you might wish to check out the new rules and consider making a comment with the FTC on this rule making subject? Consider this in 2006. "Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/wttbbs/ Related Articles:-
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