Federal Trade Commission Partners with Latin American Countries to Combat Fraud

By SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc., and the Federal Trade Commission

The U.S. Federal Trade Commission Enters Into A Multilateral Agreement Enhances Consumer Protection Cooperation With Chile, Colombia, Mexico, And Peru

The Federal Trade Commission signed a cooperation agreement with the consumer protection authorities of the four Latin American countries —Chile, Colombia, Mexico and Peru – to combat fraud both inside and outside the United States.

Table of contents

The Multilateral Memorandum of Understanding (MMOU) promotes cooperation across Latin America, including information-sharing to further investigations and policy development, as well as other types of assistance on cross-border enforcement matters.

“This multilateral MOU with our partners from Chile, Colombia, Mexico and Peru sends a message of our shared commitment to protect consumers from cross-border fraud, deception, and other illegal practices,” said Maria Coppola, Director of the FTC’s Office of International Affairs. The MOU also offers a blueprint for extending cooperation even further through the region by providing a mechanism for others to join this MOU, which will bolster our efforts to fight fraud wherever it might occur.”

Low-cost online communications allow scammers to target consumers regardless of where they live. The increasingly global nature of commerce—and fraud—poses an enforcement challenge for consumer protection authorities around the world. From 2019 to 2022, fraud reports against companies in these Latin American countries more than doubled, from 6,103 to 12,869. At the same time, total losses reported by consumers skyrocketed—from $39.4 million in 2019 to $237.9 million in 2022. Reports about online shopping were the top complaint during this same period, with losses increasing from $3.8 million in 2019 to $49.5 million in 2022. Social media was the top contact method consumers cited at 41 percent of reports in 2022.

These four countries represent about 225 million people and combined make up the eighth biggest economy in the world.

In signing the MMOU, the FTC and consumer protection authorities in these countries agreed to cooperate in investigations related to violations of consumer protection laws. Specifically, the MMOU encourages participants to:

  • Share complaints submitted by consumers – this includes reports placed through SCARS AnyScam.com (SCARS is an FTC Sentinel reporting partner);
  • Provide investigative assistance, with appropriate safeguards, including sharing of information relating to defendants, their assets and/or their deceptive conduct;
  • Coordinate enforcement actions against cross-border violations of law;
  • Provide other practical case assistance, where appropriate, in the enforcement of consumer protection laws, such as gathering evidence;
  • Participate in econsumer.gov, which allows consumers from around the world to report fraud and provides consumer protection agencies around the world with access to important data about potential violations; and
  • Cooperate on non-investigatory matters such as exchanging approaches to consumer protection policy issues and participating in staff exchanges, joint training programs and workshops.

Notably, the MMOU includes a mechanism for allowing other consumer protection authorities to join in the future.

The Commission voted 4-0 to authorize the FTC Chair to sign the MOU. The Commission vote closed on a date prior to Commissioner Christine S. Wilson’s departure from the agency.

SCARS Commentary

SCARS believes that this is a major step in developing multinational networks for the sharing of information and to enable better law enforcement cooperation.

This is also expected to have a significant impact on the growing scope of Latin American Scammer organizations from Mexico to Brazil which are every bit as large as Nigerian criminal organizations.

First, it will help to protect consumers from cross-border fraud and deception. In today’s globalized economy, scammers can easily target consumers in other countries. This agreement will allow the FTC and its counterparts in Chile, Colombia, Mexico, and Peru to share information and coordinate investigations to crack down on cross-border fraud.

Second, the agreement will help to promote fair competition in the marketplace. By working together, the FTC and its counterparts in Chile, Colombia, Mexico, and Peru can better identify and address anti-competitive practices that harm consumers.

Third, the agreement will help to strengthen consumer rights and protections across the region. By sharing best practices and working to harmonize consumer protection laws, the FTC and its counterparts in Chile, Colombia, Mexico, and Peru can help to ensure that consumers have the same level of protection regardless of where they live.

The multilateral agreement is a positive step forward for consumer protection in the Americas. It is a sign of the commitment of the FTC and its counterparts in Chile, Colombia, Mexico, and Peru in working together to protect consumers from cross-border fraud, promote fair competition, and strengthen consumer rights and protections.

Here are some specific examples of how the multilateral agreement could be used to protect consumers:

  • Cross-border fraud: The FTC could work with its counterparts in Chile, Colombia, Mexico, and Peru to investigate and prosecute cross-border fraud schemes. For example, if a scammer in Colombia is targeting consumers in the United States, the FTC could work with the Colombian authorities to shut down the scam and recover money for victims.
  • Anti-competitive practices: The FTC could work with its counterparts in Chile, Colombia, Mexico, and Peru to identify and address anti-competitive practices that harm consumers. For example, if a company is engaging in price fixing or collusion in multiple countries, the FTC could work with the authorities in those countries to investigate and prosecute the company.
  • Consumer rights and protections: The FTC could work with its counterparts in Chile, Colombia, Mexico, and Peru to share best practices and work to harmonize consumer protection laws. For example, the FTC could share its expertise on data privacy and security with its counterparts in the other countries.

The multilateral agreement is a valuable tool that can be used to protect consumers in the Americas. It is important for consumers to be aware of the agreement and to report any suspected violations to the FTC or their local consumer protection authority.

More:

SCARS Resources:

-/ 30 /-

What do you think about this?
Please share your thoughts in a comment below!

More ScamsNOW.com Articles

SCARS LINKS:   AgainstScams.org    RomanceScamsNOW.com    ContraEstafas.org    ScammerPhotos.com    Anyscam.com    ScamsNOW.com

reporting.AgainstScams.org    support.AgainstScams.org    membership.AgainstScams.org    donate.AgainstScams.org    shop.AgainstScams.org

youtube.AgainstScams.org    linkedin.AgainstScams.org    facebook.AgainstScams.org

PLEASE NOTE: Psychology Clarification

The following specific modalities within the practice of psychology are restricted to psychologists appropriately trained in the use of such modalities:

  • Diagnosis: The diagnosis of mental, emotional, or brain disorders and related behaviors.
  • Psychoanalysis: Psychoanalysis is a type of therapy that focuses on helping individuals to understand and resolve unconscious conflicts.
  • Hypnosis: Hypnosis is a state of trance in which individuals are more susceptible to suggestion. It can be used to treat a variety of conditions, including anxiety, depression, and pain.
  • Biofeedback: Biofeedback is a type of therapy that teaches individuals to control their bodily functions, such as heart rate and blood pressure. It can be used to treat a variety of conditions, including stress, anxiety, and pain.
  • Behavioral analysis: Behavioral analysis is a type of therapy that focuses on changing individuals’ behaviors. It is often used to treat conditions such as autism and ADHD.
    Neuropsychology: Neuropsychology is a type of psychology that focuses on the relationship between the brain and behavior. It is often used to assess and treat cognitive impairments caused by brain injuries or diseases.

SCARS and the members of the SCARS Team do not engage in any of the above modalities in relationship to scam victims. SCARS is not a mental healthcare provider and recognizes the importance of professionalism and separation between its work and that of the licensed practice of psychology.

SCARS is an educational provider of generalized self-help information that individuals can use for their own benefit to achieve their own goals related to emotional trauma. SCARS recommends that all scam victims see professional counselors or therapists to help them determine the suitability of any specific information or practices that may help them.

SCARS cannot diagnose or treat any individuals, nor can it state the effectiveness of any educational information that it may provide, regardless of its experience in interacting with traumatized scam victims over time. All information that SCARS provides is purely for general educational purposes to help scam victims become aware of and better understand the topics and to be able to dialog with their counselors or therapists.

It is important that all readers understand these distinctions and that they apply the information that SCARS may publish at their own risk, and should do so only after consulting a licensed psychologist or mental healthcare provider.

Opinions

The opinions of the author are not necessarily those of the Society of Citizens Against Relationship Scams Inc. The author is solely responsible for the content of their work. SCARS is protected under the Communications Decency Act (CDA) section 230 from liability.

Disclaimer:

SCARS IS A DIGITAL PUBLISHER AND DOES NOT OFFER HEALTH OR MEDICAL ADVICE, LEGAL ADVICE, FINANCIAL ADVICE, OR SERVICES THAT SCARS IS NOT LICENSED OR REGISTERED TO PERFORM.

IF YOU’RE FACING A MEDICAL EMERGENCY, CALL YOUR LOCAL EMERGENCY SERVICES IMMEDIATELY, OR VISIT THE NEAREST EMERGENCY ROOM OR URGENT CARE CENTER. YOU SHOULD CONSULT YOUR HEALTHCARE PROVIDER BEFORE FOLLOWING ANY MEDICALLY RELATED INFORMATION PRESENTED ON OUR PAGES.

ALWAYS CONSULT A LICENSED ATTORNEY FOR ANY ADVICE REGARDING LEGAL MATTERS.

A LICENSED FINANCIAL OR TAX PROFESSIONAL SHOULD BE CONSULTED BEFORE ACTING ON ANY INFORMATION RELATING TO YOUR PERSONAL FINANCES OR TAX-RELATED ISSUES AND INFORMATION.

SCARS IS NOT A PRIVATE INVESTIGATOR – WE DO NOT PROVIDE INVESTIGATIVE SERVICES FOR INDIVIDUALS OR BUSINESSES. ANY INVESTIGATIONS THAT SCARS MAY PERFORM IS NOT A SERVICE PROVIDED TO THIRD-PARTIES. INFORMATION REPORTED TO SCARS MAY BE FORWARDED TO LAW ENFORCEMENT AS SCARS SEE FIT AND APPROPRIATE.

This content and other material contained on the website, apps, newsletter, and products (“Content”), is general in nature and for informational purposes only and does not constitute medical, legal, or financial advice; the Content is not intended to be a substitute for licensed or regulated professional advice. Always consult your doctor or other qualified healthcare provider, lawyer, financial, or tax professional with any questions you may have regarding the educational information contained herein. SCARS makes no guarantees about the efficacy of information described on or in SCARS’ Content. The information contained is subject to change and is not intended to cover all possible situations or effects. SCARS does not recommend or endorse any specific professional or care provider, product, service, or other information that may be mentioned in SCARS’ websites, apps, and Content unless explicitly identified as such.

The disclaimers herein are provided on this page for ease of reference. These disclaimers supplement and are a part of SCARS’ website’s Terms of Use. 

Legal Notices: 

All original content is Copyright © 1991 – 2023 Society of Citizens Against Relationship Scams Inc. (Registered D.B.A SCARS) All Rights Reserved Worldwide & Webwide. Third-party copyrights acknowledge.

U.S. State of Florida Registration Nonprofit (Not for Profit) #N20000011978 [SCARS DBA Registered #G20000137918] – Learn more at www.AgainstScams.org

SCARS, SCARS|INTERNATIONAL, SCARS, SCARS|SUPPORT, SCARS, RSN, Romance Scams Now, SCARS|INTERNATION, SCARS|WORLDWIDE, SCARS|GLOBAL, SCARS, Society of Citizens Against Relationship Scams, Society of Citizens Against Romance Scams, SCARS|ANYSCAM, Project Anyscam, Anyscam, SCARS|GOFCH, GOFCH, SCARS|CHINA, SCARS|CDN, SCARS|UK, SCARS|LATINOAMERICA, SCARS|MEMBER, SCARS|VOLUNTEER, SCARS Cybercriminal Data Network, Cobalt Alert, Scam Victims Support Group, SCARS ANGELS, SCARS RANGERS, SCARS MARSHALLS, SCARS PARTNERS, are all trademarks of Society of Citizens Against Relationship Scams Inc., All Rights Reserved Worldwide

Contact the legal department for the Society of Citizens Against Relationship Scams Incorporated by email at legal@AgainstScams.org