consumer protection and fraud

Account freezing

In action that cuts off all access to an account

Better Business Bureau

(BBB) A consumer protection agency that uses a rating system to inform consumers of how well a company treats customers

Consumer Bill of Rights

A set of federal regulations that protect consumers from product hazards and misleading information

Consumer Financial Protection Bureau

CFPB A consumer protection agency that publishes articles on compliance issues related to consumer protections, Investigates compliance, and outlines rules of companies to adhere to.

Consumer protection agency

Any organization or entity that protects consumers from unfair business practices

Consumer protection laws

Regulations put in place to protect consumers from fraud or risk

Credit card accountability, responsibility and disclosure act

A lot to stop deceptive and abusive practices by credit card users and issuers

Dumpster diving

The practice of foraging through garbage to find information or items of value

Encryption

A method that converts information into a code

Food and drug administration

(FDA) A consumer protection agency that holds companies accountable for product safety

Hacking

The act of breaking into an accessing personal account accounts

Identity theft

A situation where someone’s identity is stolen

Insurance fraud

knowingly lying to obtain an Insurance benefit

Phishing

The act of pretending to be a known organization, with the intent to obtain an individuals personal information

Policy

A set of rules that outline an agreement

Price discrimination

The act of selling the same product or service at different prices to different buyers

Securities fraud

Misrepresentation of information to mislead investors

Skimming

Secretly obtaining an individuals account information using electronic means

SSL certificate

Small data file that authenticates the identity of a website and encrypt sensitive information

Uniform commercial code

A code that mandates the products be free of defects for a certain period of time following a purchase

Used car rule

A law that requires used car dealers to post a buyers guide on a used vehicle for sale

Warranty

A written promise to repair or replace a product within a specified period of time