ScamBook Q1 Market Report Exposes over $1 Billion in Scam Related Charges

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Scambook, a leading online complaint resolution platform, exposes the major trending scams of Q1 2012, while also providing a glimpse of what to look out for in the months ahead

Since Scambook.com launched in June of 2011, consumers have reported over $1 billion in monetary damages due to suspected scams and poor business practices.

Scambook, a leading online complaint resolution platform, exposes the major trending scams of Q1 2012, while also providing a glimpse of what to look out for in the months ahead. As the global economy began to make its decline in 2008, the scam industry took to the internet and developed new ways to take advantage of consumers, whether it was through unauthorized credit card charges, text spam, or identity theft. Scambook based its market report on a sample of 100,000 consumer complaints reported to Scambook.com in Q1 2012.

To access the full Q1 2012 ScamBook Market Research Report visit here.

*The summary highlights below are from the ScamBook Market Report*

The Scam Industry's Impact on Consumer Purchases:

1. Since Scambook.com launched in June of 2011, consumers have reported over $1 billion in monetary damages due to suspected scams and poor business practices.
2. Consumers have reported complaints on over 40,000 companies to Scambook.
3. Top Impacted States in the United States: California, Florida, Texas, New York, Pennsylvania, Illinois, Ohio, North Carolina, Georgia and Michigan.

Scammers Go Mobile:

1. SMS Text Spam Complaint on Scambook has seen more than $29 million in damages reported by consumers.
2. Almost 5,000 reports were submitted to ScamBook about users receiving a text message congratulating them on a Free $1000 Walmart Gift Card.

Some Things Don't Change:

1. False Advertising and Unauthorized Credit Card Charges, one of the most traditional forms of deceptive business practices, dominates 70% of all consumer complaints reported to Scambook.
2. Over $650 million in damages regarding False Advertising/Unauthorized Credit Card Charges has been reported by consumers.

Trends to Watch Out For:

1. Smishing, or text message scam complaints, are rapidly growing and becoming a common theme on Scambook.
2. Monthly Re-Occurring Credit Card Membership Clubs promoting shoes of the month, wines of the month, coffee of the month, diet products of the month, continues to hide billing information from users that their credit card will be charged again the next month unless they cancel.

To access the full Q1 2012 ScamBook Market Research Report please visit: http://www.scambook.com/press/scambook_market_report_q1_2012

About ScamBook.com:

ScamBook is the leading complaint resolution platform for consumers and businesses. Scambook's ultimate purpose is to connect consumers who are upset about how they've been treated by a company or an individual with the people or entities that care most about helping them. Whether its getting a refund of the money they never agreed to pay or filing a lawsuit to change a company's practices altogether, Scambook contacts lawyers, government agencies, the company's themselves, or their competitors, to find out who is willing to provide consumers with what they need and deserve.

ScamBook was launched on June 2011.

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Tuanh Dinh
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