Scammers are taking advantage of a baby formula shortage, Federal Trade Commission warns – CNBC
Sod Tatong | Moment | Getty Images
Scammers are exploiting a nationwide baby formula shortage, tricking consumers into paying hefty prices through fraudulent online stores, the Federal Trade Commission said Wednesday.
The con artists lure “desperate parents and caregivers” via fake websites or social media profiles with images and logos of recognizable formula brands, according to a consumer alert. Consumers think they’re purchasing from a company’s official website but formula never arrives, the FTC said.
“Scammers exploiting the high demand for baby formula have sunk to new lows,” the agency said.
More from Personal Finance:
High-yield bonds may lose appeal amid rising interest rates
Better market days are coming. It’s just a question of when
How to sidestep a tax bomb when selling your home
A shortage of baby formula started early in the Covid-19 pandemic, but has worsened in recent weeks. The scarcity is partly due to the closure of a Michigan manufacturing plant in February;…
Read Full Story: https://www.cnbc.com/2022/05/18/baby-formula-shortage-is-bringing-out-scammers-ftc-warns.html
The post Scammers are taking advantage of a baby formula shortage, Federal Trade Commission warns – CNBC first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2022/05/18/scammers-are-taking-advantage-of-a-baby-formula-shortage-federal-trade-commission-warns-cnbc_2022051820128.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.