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Consumer Daily Reports

Gold historically provides shelter from volatility but diversification is crucial

By James R. Hood of ConsumerAffairs
March 11, 2025

President Trump promised to shake things up and that's at least one promise he's delivered on. His tariffs on imports from Canada, Mexico and China have shaken up Wall Street and put stocks in a steep dive.

So is this the time to dump stocks and buy gold? Well, it might be if you like to sell low and buy high. On the other hand, no one ever knows how low stocks will go, so both gold and cash can be a good way to hedge your bets. Be sure to calculate the tax consequences of selling stock. You don't want to incur a big capital gains tab.

The advantage of gold is that it'sconsidered a safe-haven asset, historically attracting investors during times of economic uncertainty, which is what we're living through right now.Gold is trading around$2,916per troy ounce as of March 11, according to GoldPrice.org, reflecting a significant rise from previous years.

Meanwhile, the Dow Jones Industrial Averageis down more than 450 points Tuesday afternoon, prompting an outbreak of angina in many households. The tech-heavy Nasdaq Composite index also fell into correction territory, meaning it fell from 10% from its most recent high,and the S&P 500 is nearing a correction.

Historically, economic uncertainty drives manyinvestors toward gold, seeking stability amid market volatility. Investors who are well-diversified nearly always have some gold in their portfolio and there's no reason smaller investors shouldn't do the same, even if they don't unload all their equities.

These days, it is typical for investors to buy gold through exchange-traded funds, such as the iShares Gold Trust MicroandSPDR Gold MiniShares Trust.

Gold's performance and forecasts

Gold's price trajectory has been notably bullish.In early 2025, prices reached a new high of $2,915 per ounce, marking a 100% increase from the March 2020 low of $1,451 per ounce.This upward trend is anticipated to continue, with Goldman Sachs revising its year-end 2025 forecast to $3,100 per ounce, up from the previous $2,890.

Similarly, J.P. Morgan predicts an average gold price of $2,950 in 2025, potentially reaching $3,000 per ounce.These projections are underpinned by factors such as sustained inflation, geopolitical risks, and robust demand from central banks.

Still, the World Gold Council has cautioned the rally may cool in 2025after gold's stellar performance in 2024.

Investment considerations

While gold's recent performance and optimistic forecasts are compelling, potential investors should approach with caution, as they would with any investment.

David Rosenberg, founder of Rosenberg Research, advises following Warren Buffett's prudent investment strategy, emphasizing the importance of "de-risking" portfolios during uncertain economic times.

Rosenberg, in a Marketwatch report, highlights the necessity of increasing cash reserves and investing in defensive sectors, including assets like gold that traditionally perform well during periods of instability.

Keep in mind that market corrections can occur, and gold is not immune to price fluctuations.Factors such as changes in interest rates, currency strength, and shifts in investor sentiment can influence gold's value.Therefore, diversification remains a key principle in investment strategies, ensuring that portfolios are balanced across various asset classes to mitigate potential risks.

Newcomers considering exposure to gold without directly purchasing the physical metal, investing in gold mining companies presents an alternative. Others argue that, although it's a little bulky and needs careful handling, actual, physical gold is still king. ConsumerAffairsreviews gold dealers here.

Be bold but careful

Given the current economic landscape, characterized by trade tensions and inflationary pressures, gold continues to serve as a viable hedge against uncertainty.The metal's strong performance and favorable forecasts suggest potential for further appreciation.However, investors should consider a diversified approach to their portfolios.

Consulting with financial advisors and conducting thorough research are prudent steps to ensure alignment with individual financial goals and risk tolerance.




Posted: 2025-03-11 22:16:59

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More News From This Category
Consumer News: When rich shoppers go generic: why store brands are winning big
Thu, 04 Dec 2025 20:07:05 +0000

The logo on the box doesnt feed your family the math does

By Kyle James of ConsumerAffairs
December 4, 2025
  • Higher-income households are leading the shift to store brands and discount grocers, and most shoppers say private-label quality matches or beats name brands

  • Start with low-risk swaps (staples, basic dairy, frozen veggies), keep what passes the family taste test, and save name brands for a few special favorites

  • Do a monthly stock-up at discounters and quick fill-in trips at your regular store so youre not paying full price where you dont need to


A new consumer survey from Alvarez & Marsal shows that higher-income households (over $100,000/year) are actually leading the shift toward store brands and discount grocers.

Heres whats going on, and how you can use the same strategy to keep your grocery bill in check.

Store brands arent just for tight budgets anymore

Alvarez & Marsals fall 2025 Consumer Sentiment Survey found the following:

  • Surprisingly, more than 82% of shoppers making over $100K say theyre buying more private-label products than ever before.

  • Just over half of those high-income shoppers say they buy store brands very often in grocery stores. Thats more than lower-income shoppers, where 42% said the same.

  • Across all income levels, 68% of people say private-label groceries are as good as or better than national brands on quality.

In other words, store brands are no longer the if we have to option. Theyre a deliberate tradeoff where you happily spend less per item and free up cash for other things.

Plus, as weve talked about before, many store brands are actually produced by the more expensive name-brand then simply re-labeled.

What this means for your grocery budget

The fact that shoppers who can afford the more expensive name-brands are opting for store-brands and discount grocery stores is pretty telling. It tells me that store brands are clearly getting better and are providing an excellent value.

Heres how to borrow the same playbook without feeling like youre sacrificing quality.

1. Start with low-risk swaps

Most shoppers get nervous about swapping everything to store brand all at once. You dont have to, just start with a few.

Begin with categories where quality tends to be very comparable:

  • Staples: sugar, flour, salt, rice, canned beans, and canned tomatoes.

  • Dairy: milk, half/half, butter, sour cream, and shredded cheese.

  • Frozen basics: veggies, plain fruits, pizza, fries, tater tots.

I love the advice of trying one or two private-label items at a time and keep what passes the family taste test.

Think of it this way, if you hate it, youre only out a few dollars. If you love it, youve just permanently lowered your costs for that grocery item.

2. Use national brands for special items, not everything

Get in the habit of thinking of your big national brands as a special treat or specific need purchase. Here are a few examples that jump to mind:

  • That favorite box of cereal the kids devour in 2 days.

  • A particular fancy pasta sauce that you would serve to guests.

  • That one gotta have it hot sauce or snack where nothing else compares to it.

If you reserve those more expensive brand names for things you really care about, youll feel better about swapping to store brand on all the doesnt matter stuff.

3. Combine discounters with your main store

The survey also shows shoppers across all income levels think that discount grocery stores have the quality and assortment to match traditional grocers. Use that tidbit of information to your advantage:

  • Do a once-a-month stock-up trip to Aldi, Lidl, Grocery Outlet, Winco, or another discount chain for shelf-stable staples, snacks and cleaning supplies.

  • Use your regular grocery store for fresh produce, meat and any specialty items you cant find elsewhere.

Dont think of it as breaking up with your favorite store, just stop paying full price for items you could get cheaper without a quality hit.


Read More ...


Consumer News: Remote work isn’t dead: 20 employers offering six-figure WFH jobs
Thu, 04 Dec 2025 20:07:04 +0000

Despite the return-to-office trend, some big companies are still hiring top talent to work from anywhere

By Kristen Dalli of ConsumerAffairs
December 4, 2025

  • FlexJobs identified 20 major companies including Pinterest, Reddit, and Spotify that continue to hire fully remote workers in 2026.

  • Many of the open roles at these companies pay over $100K, with examples ranging from engineering to management positions.

  • Experts say remote work remains valuable for both employees and employers, offering benefits like better mental health, cost savings, and improved work-life balance.


If it feels like everyone is being called back to the office right now, youre not imagining it.

Plenty of major employers have tightened their remote-work policies this year. But despite the headlines, fully remote work isnt disappearingand FlexJobs has the receipts to prove it.

ConsumerAffairs interviewed Toni Frana, Career Expert Manager at FlexJobs, who says there are still many companies committed to hiring talent from anywhere. In fact, the career site just released a list of 20 employers that consistently offer fully remote roles, including big names like Affirm, Pinterest, Reddit, and Spotify.

And for job seekers looking for strong compensation, many of the opportunities at these companies pay $100K or more.

Companies hiring remote employees

Heres a look at 20 companies that are currently hiring full-time remote employees with a six-figure salary:

1. Affirm

2. Allstate

3. Amgen

4. Amplify Education

5. Atlassian

6. BELAY

7. CrowdStrike

8. Dropbox

9. HubSpot

10. Humana

11. Kraken

12. Pearson

13. Pinterest

14. Reddit

15. Ryder

16. Spotify

17. StackAdapt

18. Stride, Inc.

19. Twilio

20. Vista

FlexJobs has also shared some sample job listings that are actively accepting applicants:

  • Senior Analytics Engineer at Reddit ($190,800 - $267,100)

  • Android Engineer at Spotify ($189,592 - $215,249)

  • People Strategy Lead at Amplify Education ($160,000 - $180,000)

  • Global Safety Manager at Amegen ($122,105 - $145,799)

  • Account Manager at Atlassian ($134,100 - $175,075)

The benefits of remote work

According to Frana, many companies are opting for fully remote work because they see the benefits it brings to the company and the employees.

Many remote workers indicate better mental health due to factors like eliminating a long commute, the cost savings associated with not driving to the office, paying for lunches, and increased work-life balance, he said.

These factors are hard for employers to ignore. When employees feel valued and have a benefit like remote work, it directly (and positively) benefits the company as well, and makes offering remote work options a net positive for employers.

Tips for job seekers

If youre looking for a remote job, Frana shared some of his best advice:

  • Focus on roles that match your skill set. Even using your skills as keywords for searching for job descriptions, rather than a job title, will help you identify roles closely aligned with your top skills regardless of the job title.

  • Tailor your resume and cover letter to remote/hybrid experience and skills. Employers like to see that candidates have skills in place to be a successful remote worker. Some of these skills include asynchronous and written communication, technical skills, and virtual collaboration.

  • Lean into networking. For example, if you already know someone who works at a company youd like to work for, start a dialogue with them to help increase your chances of success on your application. Plus, many companies have employee referral programs that make recommending an applicant easy.


Read More ...


Consumer News: WHO rolls out first guidelines for weight loss drugs
Thu, 04 Dec 2025 20:07:04 +0000

The new recommendations could change global treatment standards

By Kristen Dalli of ConsumerAffairs
December 4, 2025

  • The World Health Organization (WHO) has issued its first-ever global guideline recommending that GLP-1 medicines (like those in Semaglutide, Tirzepatide and Liraglutide) may be used long-term to treat obesity in adults.

  • Importantly, WHO says medication alone isnt enough GLP-1 therapies should come paired with healthy eating, physical activity, and ongoing lifestyle support.

  • Because of cost, supply and limited long-term safety data, access will initially be very limited: less than 10% of eligible people are likely to get these drugs by 2030 without major policy efforts.


The World Health Organization (WHO) officially recognized obesity as a chronic, relapsing disease one that deserves long-term, comprehensive care.

In addition, the organization now recommends that adults with obesity may be prescribed GLP-1 medications (like Semaglutide, Tirzepatide or Liraglutide) for long-term treatment.

Obesity is a major global health challenge that WHO is committed to addressing by supporting countries and people worldwide to control it, effectively and equitably. Our new guidance recognizes that obesity is a chronic disease that can be treated with comprehensive and lifelong care, Dr. Tedros Adhanom Ghebreyesus, WHO Director-General, said in a news release.

While medication alone wont solve this global health crisis, GLP-1 therapies can help millions overcome obesity and reduce its associated harms.

The new guidelines

With its first-ever guidance on GLP-1 therapies for obesity, the WHO is laying out a path for how these weight-loss drugs should be used and under what conditions.

Heres what the rules say:

  • Long-term use for adults with obesity: Under the guideline, adults with obesity (e.g. body-mass index high enough to qualify as obesity) may but not must be prescribed GLP-1 medications (for example, Semaglutide, Tirzepatide or Liraglutide) as a long-term treatment. Long-term treatment is defined (in line with current regulatory practice) as at least six months or more.

  • Only for adults not pregnant women: The recommendation explicitly does not extend to pregnant women, reflecting a lack of sufficient evidence on safety for that group.

  • Must come with behavioral support: WHO recommends that anyone taking GLP-1 medicines for obesity should ideally also receive intensive behavioral therapy (IBT) meaning structured, professional-guided support around healthy eating, physical activity, and lifestyle changes. This is not optional in WHOs view: its part of a multimodal care plan to boost weight-loss success and long-term health.

  • Obesity as a chronic disease requiring lifelong care: The guideline frames obesity not as a short-term issue or a lifestyle failing but as a chronic, relapsing disease that may require ongoing management, just like diabetes or hypertension. That includes screening, managing complications, and possibly combining drug therapy with other medical or surgical options depending on the person.

In short: GLP-1 medications are now officially recognized as a legitimate, long-term tool for treating obesity in adults but only as part of a bigger plan that includes lifestyle change and ongoing care, under medical supervision.

What it means

This development could be a major milestone: for many people, GLP-1 therapies may offer a safer, effective, medically recognized route to weight loss and better metabolic health. But the WHOs guideline also comes with important caveats and signals that success wont be automatic:

  • Because the recommendation is conditional, it reflects uncertainty about long-term safety, how to maintain weight loss, and what happens after stopping treatment. Clinical trials so far cover a range of durations (from six months to a few years), but the guideline authors acknowledge more data is needed, especially on long-term health outcomes and sustained weight management.

  • The effectiveness of GLP-1 drugs is likely to be far stronger and more sustainable when paired with structured behavioral interventions (diet, activity, follow-up). Just taking the drug without lifestyle support is unlikely to deliver lasting results.

  • There are broader equity and access concerns globally. WHO warns that high costs, limited production, and under-prepared health systems may block many people who could benefit especially in poorer countries. The agency urges governments and health systems to consider pooled purchasing, fair pricing, and scale-up strategies to avoid worsening health inequality.


Read More ...


Consumer News: Consumer Safety Recall Roundup - Week of Dec. 4
Thu, 04 Dec 2025 17:07:07 +0000

Consumer Product Safety Commission recalls include children's products, toys, tools and assorted appliances and furniture

By News Desk of ConsumerAffairs
December 4, 2025

A wave of new federal recalls and safety warnings highlights continuing concerns about unsafe baby products, risky household items and defective gear of all kindsmany sold online through Amazon, Walmart and other major platforms. The Consumer Product Safety Commission (CPSC) this week announced this week's list of recalls and hazard advisories.

While no deaths have been reported, officials warn that several recalled products pose life-threatening risks, including electrocution, asphyxiation, entrapment, falls, drowning, burns and explosion hazards. Consumers are urged to stop using all affected items immediately.


KTEBO writing tablet toy recall over battery injury risk

Parents should stop using these writing tablets sold on Amazon and seek a free replacement from KTEBO.

  • Button battery compartment can open, risking ingestion and serious injury or death to children

  • Recall affects about 10,380 KTEBO writing tablet toy sets sold in multiple colors and sizes

  • Consumers should contact the company for a replacement

Photo

Thousands of KTEBO-branded writing tablet toys are being recalled due to a serious safety risk. The battery compartment on these toys can open easily, exposing a button cell battery that poses a life-threatening hazard if swallowed by children. The tablets were sold in sets of two in a variety of colors and sizes on Amazon between September and October 2025.

The hazard

The toys violate federal safety standards because the screw intended to secure the battery compartment does not remain attached. If a button cell battery is swallowed, it can cause internal burns, serious injuries or death. No injuries have been reported.

What to do

Consumers should immediately stop using the recalled writing tablet toys and contact KTEBO for a free replacement. Do not allow children to play with these products.

Company contact

Contact KTEBO by email at writing-tablet-recall@ktebo.com for more information.

Source

Read the official recall notice


Cubimana building toy recall for battery ingestion danger

Parents who bought Cubimana treehouse sets on Shein should stop use and get a refund due to battery risks.

  • Battery compartment in LED light piece can be easily accessed by children

  • Recall affects about 40 Cubimana treehouse building sets sold on Shein from July to October 2025

  • Immediate stop use and refund available from Vatos Toys

Photo

Cubimana-branded treehouse building toy sets sold online at Shein are being recalled due to a dangerous battery hazard. The battery compartment in the LED light piece can be easily opened by children, creating a risk of ingesting button cell batteries.

The hazard

The toy sets fail to meet mandatory safety standards. If a child swallows a button cell battery, it can cause severe internal injuries, chemical burns or be fatal. No incidents or injuries have been reported.

What to do

Consumers should immediately stop children from using the recalled Cubimana building sets and contact Vatos Toys for a full refund.

Company contact

Contact Vatos Toys by email at shein.us@vatostoys.com for refund instructions.

Source

Read the official recall notice


Little Pea Shop crib bumper recall for suffocation hazard

Caregivers must stop using these crib bumpers sold online and request a refund from Little Pea Shop.

  • Padded crib bumpers violate federal ban and can cause suffocation

  • About 300 units in multiple styles and colors affected, sold October 2023 to October 2025

  • Refunds available for all affected products

Photo

Little Pea Shop is recalling its padded crib bumpers sold online due to a suffocation risk. These bumpers, banned by federal law, can create an unsafe sleeping environment for infants.

The hazard

The recalled bumperssold in various designs and lengthscan obstruct an infants breathing and violate the federal crib bumper ban under the Safe Sleep for Babies Act. No injuries have been reported.

What to do

Consumers should remove the bumpers from cribs immediately and contact Little Pea Shop for a refund.

Company contact

Contact Little Pea Shop by email at support@littlepeashop.com or online at recall page for more details.

Source

Read the official recall notice


FUFU&GAGA Murphy wall bed recall for impact and laceration hazards

Owners of these wall beds should stop assembly and contact the company for a refund due to injury risks.

  • 215-pound bed frame can fall during assembly, causing impact or laceration injuries

  • About 250 FUFU&GAGA queen size wall beds sold online between January and April 2025 affected

  • Refunds available; two injuries reported

Photo

A recall is underway for FUFU&GAGA white wood frame queen size Murphy wall beds due to a risk of severe injury. The heavy bed frame can fall if not properly anchored during assembly or disassembly.

The hazard

The 215-pound frame can fall on consumers, creating deadly impact, crush or laceration hazards. Two incidents have resulted in significant injuries, including lacerations and a fractured finger.

What to do

Consumers should immediately stop assembling or disassembling the recalled beds and contact the company for a refund.

Company contact

Contact Ningbo Tianqi Electronic at 208-820-0799 (9 a.m. to 5 p.m. ET, MondayFriday), email adelahu@fufugaga.com or support@fufugaga.zendesk.com, or visit www.fufugaga.com and click on RECALL INFORMATION.

Source

Read the official recall notice


Casaottima 13-drawer dresser recall for tip-over hazard

Parents should stop using these dressers from Amazon and request a refund from Casaottima.

  • Unstable dressers can tip over, risking serious injury or death to children

  • About 4,120 Casaottima 13-drawer dressers in several colors recalled

  • Consumers should stop use and get a refund

Photo

Casaottima 13-drawer dressers sold on Amazon are being recalled for tip-over and entrapment hazards. The dressers do not meet the mandatory safety standard required by the STURDY Act and pose risks to children if not anchored.

The hazard

The recalled dressers are unstable and can tip over if not anchored to the wall, risking serious injuries or death to children. No injuries have been reported.

What to do

Consumers should stop using the recalled dressers immediately and contact Casaottima for a refund.

Company contact

Contact Casaottima by email at support@casaottima.store or online at recall page for more information.

Source

Read the official recall notice


HydroJug childrens sport tumbler recall for choking risk

Parents should stop using these 14-ounce tumblers and request a free replacement from HydroJug.

  • Handle rivets can loosen and detach, posing a choking hazard for children

  • About 17,000 HydroJug childrens sport tumblers affected

  • Company offering free replacements

Photo

HydroJug is recalling about 17,000 14-ounce childrens sport tumblers after hundreds of reports of the handle rivets coming loose. Detached rivets pose a choking risk to young children.

The hazard

The rivets on the handle can loosen and detach, creating a choking hazard. There have been 656 reports of the problem but no injuries reported.

What to do

Consumers should immediately stop using the recalled tumblers and contact HydroJug for a free replacement product.

Company contact

Contact HydroJug by email at service@thehydrojug.com or visit the companys recall page for instructions.

Source

Read the official recall notice


Grizzly Industrial heavy-duty planer recall for impact hazard

Owners should stop using these planers and contact Grizzly Industrial for a free repair kit.

  • Chip breaker can contact cutterhead, ejecting debris and risking injury

  • About 2,300 Grizzly G0815 15 3HP heavy-duty planers recalled in the US

  • Free repair kit and instructions available

Photo

Grizzly Industrial is recalling thousands of its 15-inch heavy-duty planers due to a risk of impact and laceration injuries caused by design flaws in the chip breaker.

The hazard

The chip breaker can come into contact with the cutterhead blades during use, which may cause debris to be ejected from the planer. This poses serious impact and laceration risks to users and bystanders. Seven breakage incidents have been reported, with no injuries.

What to do

Consumers should immediately stop using the recalled planers and contact Grizzly Industrial for a free repair kit and installation instructions.

Company contact

Contact Grizzly Industrial toll-free at 888-615-7944, email recalls@grizzly.com, or visit www.grizzly.com/recalls for details.

Source

Read the official recall notice


CreateOn pip-cube recall for magnet ingestion hazard

Parents should stop children from playing with these magnetic cubes and request a replacement from CreateOn.

  • Magnets can come loose, posing a risk if swallowed

  • About 9,400 CreateOn Crayola-branded pip-Cube sets in multiple colors affected

  • Company offers free replacement cubes

Photo

CreateOn is recalling thousands of Crayola-branded pip-Cubes magnetic building sets due to the risk of magnets coming loose. Swallowing magnets can cause life-threatening injuries.

The hazard

If the seams on the cubes separate, small magnets can come free. If swallowed, these magnets can attract to each other inside the body, leading to intestinal blockages, perforations or worse. No injuries have been reported.

What to do

Consumers should immediately take the recalled cubes away from children and contact CreateOn for a free replacement set.

Company contact

Contact CreateOn toll-free at 800-333-0549, email pipcuberecall@CreateOn.com, or visit createon.com/recall for more information.

Source

Read the official recall notice


Primark water balloon pump recall for rupture injury risk

Consumers should stop using these water balloon pumps and contact Primark for a refund.

  • Pump can rupture during use, causing cuts or injuries from excessive pressure

  • About 3,170 Primark water balloon pumps in blue and pink affected

  • Refunds available; two injuries reported in the US

Photo

Primark is recalling water balloon pumps sold at its stores in several states after reports of the products rupturing and causing cuts to users hands and fingers.

The hazard

The pump can generate excessive pressure, causing it to rupture and potentially injure the user or bystanders. Two injuries were reported in the US and nine internationally.

What to do

Consumers should stop using the recalled water balloon pumps and contact Primark for a refund.

Company contact

Call Primark at 617-946-3236, visit primark.com/recall, or fill out the contact form on their website for more information.

Source

Read the official recall notice


Warning: Jobon torch lighters lack child safety features

CPSC urges consumers to stop using and properly dispose of these lighters due to fire and burn risks.

  • Torch lighters lack required child-resistant mechanisms, violating safety standards

  • About 13,000 sold online at Amazon, 150 at Alibaba from April 2021 to September 2025

  • Immediate stop use and safe disposal required

Photo

The U.S. Consumer Product Safety Commission is warning consumers to stop using Jobon butane torch lighters due to the absence of child-resistant features. These lighters were sold online in various colors and lack crucial safety mechanisms.

The hazard

The lighters do not meet the mandatory standard for multipurpose lighters because they lack child-resistant mechanisms. This poses a risk of serious injury or death from fire and burns.

What to do

Consumers should immediately stop using and dispose of these lighters according to local regulations. Do not sell or give them away.

Source

Read the official CPSC warning



Read More ...


Consumer News: Telecom firm ordered to block Walmart-impersonation robocalls
Thu, 04 Dec 2025 17:07:07 +0000

The FCC said SK Teleco risks losing access to the network

By Mark Huffman of ConsumerAffairs
December 4, 2025
  • FCC orders SK Teleco to halt transmission of Walmart-impersonation robocalls or face removal from U.S. networks

  • Scam campaign used AI voices Emma and Carl to solicit victims personal data, including Social Security numbers

  • Provider failed to respond to repeated traceback notices, triggering enforcement action and a 48-hour mitigation deadline


Federal regulators have issued an urgent cease-and-desist order to SK Teleco after investigators concluded the company was transmitting a massive robocall scam that impersonated Walmart employees and attempted to steal consumers personal information.

The Federal Communications Commissions Enforcement Bureau said that SK Teleco must immediately stop processing the fraudulent calls or risk being barred entirely from routing traffic across U.S. communications networks. The agency gave the company 48 hours to block the illegal traffic and 14 days to implement measures preventing its return.

According to the FCC, the robocall campaign used artificial voices identifying themselves as Emma or Carl, claiming to alert consumers to a supposed $919.45 preauthorized purchase of a PlayStation 5 bundle on their Walmart accounts. Recipients were told to press 1 to cancel the order or reach customer support.

Those who complied were connected to live operators who sought personal details, including Social Security numbers, under the guise of resolving the fake transaction.

Red flag

But being asked to confirm a purchase is highly unusual. Merchants rarely ask a consumer if they really made a purchase, and these messages are nearly always a scam.

Between January 21 and April 11 of this year, the FCC-authorized Industry Traceback Group identified 29 specific calls to wireless numbers linked to the scam. Robocall-blocking service YouMail estimated the scheme generated nearly 8 million calls nationwide, underscoring the scale of the fraudulent campaign.

Traceback investigators say they notified SK Teleco multiple times, supplying call records and urging the provider to investigate and stop the traffic. The company, however, failed to respond, the FCC said.

Under federal law, telemarketing calls to mobile phones using prerecorded or artificial voices are prohibited without prior express consent or an emergency justification, neither of which applied in this case.

FCC Chair Brendan Carr criticized the providers inaction, stating:

Scammers and thieves using our phone networks to defraud consumers or steal personal data is illegal, and voice service providers must be part of the solution. While most providers understand this responsibility, we wont tolerate those that turn a blind eye and allow shady robocallers on their networks.

If SK Teleco fails to act

If SK Teleco does not swiftly eliminate the scam traffic and demonstrate measures to prevent recurrence, the FCC said it will direct all other carriers to block the companys calls, effectively disconnecting SK Teleco from the U.S. telecommunications system.


Read More ...


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