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Phantom financial obligation brokering: a rising type of identification theft

Phantom financial obligation brokering: a rising type of identification theft

The FTC recently announced a “phantom debt broker” settlement. Phantom financial obligation is financial obligation that’s been fabricated then addressed as though it had been debt that is real could possibly be gathered from customers. Associated with debt that is phantom the FTC has labored on, this instance in particular supplied a definite view into methods that form the modus operandi for the newly appearing sort of identification theft.

Financial obligation agents are businesses that purchase and sell financial obligation. The difficulty in this FTC instance had been that some financial obligation brokers created debts that are“counterfeit from misappropriated information about customers’ identities and funds; and debts purportedly owed on bogus “autofunded” payday advances that fraudulent enterprises foisted on customers without their authorization.” (See: Put differently, your debt agents made within the financial obligation consumers that are using information.