What is fleecing?

Fleecing is a term used to described a fraudulent practice in which a person or organization takes advantage of others by using dishonest or deceptive means to obtain money or property.

In a fleecing scam, individuals may be promised high returns on investments or offered goods or services that do not exist. Fraudsters may also use tactics such as false advertising, phishing schemes, or identity theft to trick people out of their money or personal information.

Fleecing can occur in many contexts, including online scams, telemarketing fraud, and Ponzi schemes. It can be perpetrated by individuals, groups, or even entire organizations.

To protect oneself from fleecing, it's important to be aware of common scams and to never give out personal or financial information to unknown individuals or organizations. It's also a good practice to research any investment opportunities or businesses before investing any money. Overall, vigilance and caution are key to avoiding becoming a victim of fleecing.