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Pyramid schemes collapse when they run short of new recruits needed to pay earlier investors.These scams always fail—it’s mathematically guaranteed. Report pyramid schemes to: Tax-related identity theft occurs when someone uses your Social Security number to get a tax refund or a job.Some scammers may call with threats of jail or lawsuits if you don’t pay them.Reporting scams to federal agencies helps them collect evidence for lawsuits against people committing these scams.Visit Equifax’s website dedicated to this breach to learn if you were impacted.You will need to provide your last name and the last six numbers of your Social Security number.They masquerade as multi-level marketing programs or other types of legitimate businesses.They use new recruits’ required payments to provide “profits” to those participating longer.

However, you won’t be able to enroll in it immediately.

To report a prize scam: Federal agencies investigate scams and pursue criminal charges against the scammers. State consumer protection offices do sometimes pursue individual cases as well as investigate scams.

Remember these tips to avoid being a victim of a lottery or sweepstakes scam: Pyramid schemes are scams that require a constant flow of new participants to keep them going.

You will be given a date when you can return to the site to enroll. Mark that date on your calendar, so you can start monitoring your credit as soon as possible.

If you detect suspicious activity on your credit report due to the breach, learn how to report it immediately.

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