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- Published: Wednesday, 01 July 2015 17:23
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Staten Island Business Bank Highlights 6 Red Flags of Health Fraud Scams
Learn to recognize health fraud scams, advises Victory State Bank, Staten Island’s only community-based business bank.
Such scams will not only damage your wallet, they may damage your health, as well. And in some instances, they can result in death.
According to the Food and Drug Administration (FDA), a health product is fraudulent if it is deceptively promoted as being effective against a disease or health condition but has not been scientifically proven safe and effective for that purpose.
Scammers promote their products through newspapers, magazines, TV infomercials and cyberspace, the FDA warns. You can find health fraud scams in retail stores and on countless websites, in popup ads and spam, and on social media sites like Facebook and Twitter.
Health fraud scams commonly pitch bogus treatments related to weight loss, sexual performance, memory loss, or serious diseases such as cancer, diabetes, heart disease, arthritis and Alzheimer’s.
Victory State Bank is urging consumers to become familiar with the red flags of health-product rip-offs. The following six tips from the FDA can help you recognize bogus claims and alert you to potential scams:
1) One product does it all. Be suspicious of products that claim to cure a wide range of diseases. A New York firm claimed its products marketed as dietary supplements could treat or cure senile dementia, brain atrophy, atherosclerosis, kidney dysfunction, gangrene, depression, osteoarthritis, dysuria, and lung, cervical and prostate cancer. In October 2012, at FDA’s request, U.S. marshals seized these products.
2) Personal testimonials. Success stories, such as, “It cured my diabetes” or “My tumors are gone,” are easy to make up and are not a substitute for scientific evidence.
3) Quick fixes. Few diseases or conditions can be treated quickly, even with legitimate products. Beware of language such as, “Lose 30 pounds in 30 days” or “eliminates skin cancer in days.”
4) “All natural.” Some plants found in nature (such as poisonous mushrooms) can kill when consumed. Moreover, FDA has found numerous products promoted as “all natural,” but contain hidden and dangerously high doses of prescription drug ingredients or even untested active artificial ingredients.
5) “Miracle cure.” Alarms should go off when you see this claim or others like it such as, “new discovery,” “scientific breakthrough” or “secret ingredient.” If a real cure for a serious disease were discovered, it would be widely reported through the media and prescribed by health professionals — not buried in print ads, TV infomercials or on Internet sites.
6) Conspiracy theories. Claims like “The pharmaceutical industry and the government are working together to hide information about a miracle cure” are always untrue and unfounded. These statements are used to distract consumers from the obvious, common-sense questions about the so-called miracle cure.
Even with these tips, fraudulent health products are not always easy to spot. If you're tempted to buy an unproven product or one with questionable claims, check with your doctor or other health care professional first.
About Victory State Bank
VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.