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Investigators at the Federal Trade Commission found more than 500 possible pyramid schemes in one day of surfing the World Wide Web, the Bureau of National Affairs reported today.
December 13, 1996
THE DAILY FED
FTC Surfs for Scams
Daily Report for ExecutivesThe FTC named Dec. 9 "Internet Pyramid Surf Day." The commission and 25 state attorney generals' offices issued warnings to the 500 sites notifying them that they're being watched now.
"The Internet is not going to be a new marketplace where scam artists roam free," said Jodie Bernstein, director of FTC's Bureau of Consumer Protection. The commission so far has pursued 15 cases against schemes on-line.
Tips for avoiding pyramid schemes are on the FTC Web Site and reports of possible schemes can be reported to pyramid@ftc.gov.
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