Many scams were investigated in the United States and got caught, but some deceptive scams seem so small that they won’t appear on the radar like the Verizon $ 1 scam.
In the most famous discussion forum, a user asked: “What is the most unnoticed scam”?
One user listed some of the scams that didn’t get people’s attention, which were related to Verizon.
What is Verizon?
It is an American multinational telecommunications company based in New York, United States. The interesting fact is that its Verizon Wireless subsidiary is the second largest provider of wireless communications services in 2019.
They have amassed customers in 57 cities and expanded their technology, which now provides 4Gbps speeds under ideal conditions whereby, in some locations, people can stream movies online in seconds.
What is the Verizon $ 1 Scam?
On the famous discussion forum, which is an online community where you can post, vote, and comment, one user asked a unique question: “What is a scam that not many people notice?”
Another listed some of the scams in the thread to reply to the user, stating that such scams are often overlooked. Among them, one from Verizon was also written.
The user explained that the telecommunications conglomerate Verizon, each month, fixed a rate of $ 1 on 8% of its customers’ bills. Every year they repeated it with all consumers and in the end they got 150 million dollars. Read on to find out why.
What was the logic behind Verizon $ 1 Scam?
The point behind this scam is that the amount is very low, and 50% will not notice it and will pay the fee or, if they observed it, they will not mind paying it.
It would draw the attention of the other 50% of customers and try to eliminate it through calls. 35% of people will later get tired of calling and eventually give up the fight.
Ultimately, the company would end up stealing $ 120 million each year (3 in total) until they are caught by the authorities. And if that happens, they will pay a fine of $ 25 million and be released.
How did users respond?
Not surprisingly, people vehemently criticized Verizon $ 1 Scam and expressed disappointment at the amount of fine the scammer would have to pay.
In one of the user reviews, you have to pay the exact money that was stolen from your customers. If not, they would keep doing this.
Others say it is a great way to steal money until one is caught. The fine imposed is not enough and they should not be released so easily.
These little scams are not visible to many and they keep happening over time, stealing hard-earned money.
Verizon is a reputable company and they wouldn’t want to lose their goodwill in the market by repeating Verizon’s $ 1 scam, but many small businesses fall to a low ebb.
People should know if someone is asking for even a small amount of money because that ends with a big dollar.
If you have been scammed that way, please share your experience with us in the comment section.