In financial fraud, what broad category do telemarketing schemes fall under?

Telemarketing schemes are classified under consumer fraud because they typically target individuals with the intent to deceive them into spending money on products or services that may be misrepresented or non-existent. This type of fraud focuses on fraudulent interactions that entice consumers to purchase or donate based on misleading information often delivered over the phone.

Consumer fraud encompasses a wide range of deceptive practices that aim to exploit consumers for financial gain. Telemarketing scams can include tactics such as fake prize notifications, fraudulent investment opportunities, or deceptive sales pitches for products that do not perform as promised. The key aspect that categorizes these schemes as consumer fraud is the direct targeting of individuals with the goal of extracting money under false pretenses.

In contrast, investment fraud specifically refers to scams that deceive individuals into making poor investment choices, cyber fraud involves unlawful activities conducted via the internet, and identity fraud relates directly to the stealing of personal information to commit theft or fraud. Thus, while telemarketing schemes can incorporate elements of these other fraud types, they primarily fall under consumer fraud due to their nature of misleading consumers directly in a sales or solicitation context.