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FTC Launches New Scam Prevention Site

Feds Warn Public To Be Aware Of Businesses Promising To Help Homeowners Avoid Foreclosure

POSTED: 2:47 pm CDT May 20, 2009

The federal government has a new tool to stop people from being scammed during the recession.

The Federal Trade Commission launched a new Web site called Money Matters that they hope will help the public avoid bogus companies.

"For the most part, fraud preys on consumers not knowing what's going on and not understanding what's happening. So, if we can get the consumer educated, it's much harder for the bad guys to convince the consumer to fork over their money," said Len Gordon of the Federal Trade Commission.

The site is filled with tips and warning signs for consumers about scams. The FTC especially wants people to be aware of businesses who promise to help homeowners from foreclosure.

The Web site has information on scams, credit cards, managing money, dealing with debt and your job.

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