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The FBI Internet Crime Complaint Center (IC3) received more than 101,000 reports of scams and fraud against people ages 60 and older in 2023, causing seniors to lose over $3.4 billion. And those ...
Email spam has steadily grown since the early 1990s, and by 2014 was estimated to account for around 90% of total email traffic. [2] [3] Since the expense of the spam is borne mostly by the recipient, [4] it is effectively postage due advertising. Thus, it is an example of a negative externality. [5]
МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%.
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Some scams involve double-billing by doctors who charge insurers for treatments that never occurred, and surgeons who perform unnecessary surgery. [ 21 ] According to Roger Feldman, Blue Cross Professor of Health Insurance at the University of Minnesota , one of the main reasons that medical fraud is such a prevalent practice is that nearly all ...
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