And that's only the tip of the iceberg. Telemarketing fraud can scam consumers out of their life savings in just one phone call. Many victims are elderly, and it's no coincidence. Seniors grew up in a time when one's word was his word, and a handshake sealed a deal. Fraudulent telemarketers also play on seniors' fear of losing their independence, knowing that an older victim will be less likely to report the crime.
Telemarketing fraud is a vastly underreported crime.
Her consumer protection experts believe this represents only a small portion of the money that is lost annually to telemarketing fraud. To combat this growing problem, Montgomery helped draft Ohio's Telephone Solicitation Sales Act which gives the Attorney General's Office valuable tools to combat and protect consumers from fraudulent telemarketing practices. Ohio and Canadian law enforcement officials met to get to know each other and to discuss ways to share information and work together to investigate and shut down boiler rooms that operate out of Canada but target Ohio consumers. Montgomery also formed a Telemarketing Fraud Unit within her Consumer Protection Section that devotes 100 percent of it's time to investigating and prosecuting illegal telemarketers. This scam appeals to consumers who can't get a loan or credit card based on their credit history.