Category: FTC

Federal Trade Commission (FTC)
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The FTC is a federal agency in the United States tasked with promoting consumer protection and preventing anticompetitive business practices. Established in 1914, this agency enforces a variety of laws aimed at ensuring fair competition and protecting consumers from deceptive or unfair business practices. It investigates allegations of fraud, false advertising, and violations of consumer rights, working to maintain a competitive marketplace where businesses operate ethically and consumers are informed and protected. The Federal Trade Commission also provides guidance on consumer protection issues, conducts research into industry practices, and educates the public about their rights under federal law. Through its enforcement actions and policy initiatives, the FTC plays a crucial role in safeguarding consumer interests and promoting economic competition across industries.

FTC-PR-240313-2

Agency Reports Categories Federal News Sources FTC FTC-24 FTC-2403 Infant Formula Supply Disruptions

FTC-PR-240313-2 (Mar. 13, 2024)

FTC Issues Infant Formula Supply Disruptions Report

Today, the Federal Trade Commission issued a report on market factors relevant to infant formula supply disruptions, which details aspects of the U.S. infant formula market that rendered it vulnerable to supply disruptions in 2022. The report also outlines considerations for policymakers to help create a more resilient infant formula supply going forward.

FTC News Release - FTC-PR-240313-2

PR-240313-2

Date: Mar. 13, 2024

Accessed: Aug. 29, 2024

Source URL: https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-issues-infant-formula-supply-disruptions-report

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FTC-PR-240313-2

FTC-PR-240313-1

Categories Debt-Relief Federal News Sources FTC FTC-24 Refunds to Consumers Student Loans

FTC-PR-240313-1 (Mar. 13, 2024)

FTC Sends More Than $4.1 Million in Refunds to People Who Lost Money to Student Loan Debt Relief Scheme – Agency said scammers lured consumers with fake loan forgiveness and pocketed their money.

The Federal Trade Commission is sending more than $4.1 million in refunds to people who lost money to student loan debt relief scammers who lured consumers with fake loan forgiveness claims and pocketed their money. The scheme used many names including Mission Hills Federal, Federal Direct Group, National Secure Processing, and The Student Loan Group.

FTC News Release - FTC-PR-240313-1

PR-240313-1

Date: Mar. 13, 2024

Accessed: Aug. 29, 2024

Source URL: https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-sends-more-41-million-refunds-people-who-lost-money-student-loan-debt-relief-scheme

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FTC-PR-240313-1

FTC-PR-240311-2

Agency Reports Categories Federal News Sources FTC FTC-24 FTC-2403

FTC-PR-240311-2 (Mar. 11, 2024)

FTC Submits Annual Budget Request to Congress

The Federal Trade Commission submitted to Congress its Fiscal Year 2025 budget request, in support of the President’s FY 2025 budget for the federal government. The budget request also includes the Performance Plan for FY 2024 and FY 2025, and Performance Report for FY 2023, as required under the GPRA Modernization Act of 2010.

FTC News Release - FTC-PR-240311-2

PR-240311-2

Date: Mar. 11, 2024

Accessed: Aug. 29, 2024

Source URL: https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-submits-annual-budget-request-congress

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FTC-PR-240311-2

FTC-PR-240311-1

Charity Scams Deceiving Donors Federal News Sources FTC FTC-24 FTC-2403

FTC-PR-240311-1 (Mar. 11, 2024)

FTC, 10 States Take Action Against Operator of Sham Cancer Charity for Deceiving Donors – Complaint charges Women’s Cancer Fund and Gregory Anderson with raising more than $18 million from donors, with only 1% going to financial support for cancer patients.

The Federal Trade Commission and 10 states are suing sham charity Cancer Recovery Foundation International, also known as Women’s Cancer Fund, and its operator, Gregory B. Anderson, for deceiving generous donors who sought to offer financial support to women battling cancer and their families.

FTC News Release - FTC-PR-240311-1

PR-240311-1

Date: Mar. 11, 2024

Accessed: Aug. 29, 2024

Source URL: https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-10-states-take-action-against-operator-sham-cancer-charity-deceiving-donors

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FTC-PR-240311-1

FTC-PR-240307-3

Categories Elder Fraud Elder Protections Federal News Sources FTC FTC-24 FTC-2403

FTC-PR-240307-3 (Mar. 7, 2024)

FTC Convenes Advisory Group to Fight Scams Against Older Adults – April 2 meeting of advisory group will highlight information gathered by committees since previous meeting

The Federal Trade Commission will host an online meeting of the Scams Against Older Adults Advisory Group on April 2, 2024. The meeting will include reports from the committees formed at the group’s inaugural meeting.

Four committees are addressing separate areas of interest: expanding consumer education and outreach efforts; improving industry training on scam prevention; identifying innovative or high-tech methods to detect and stop scams; and reviewing research on effective consumer messaging to prevent scams.

FTC News Release - FTC-PR-240307-3

PR-240307-3

Date: Mar. 7, 2024

Accessed: Sep. 1, 2024

Source URL: https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-convenes-advisory-group-fight-scams-against-older-adults

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FTC-PR-240307-3

FTC-PR-240307-2

Agency Rules AI-enabled Scam Calls Categories Federal News Sources FTC FTC-24 FTC-2403 Tech Support Scams Telemarketing Fraud

FTC-PR-240307-2 (Mar. 7, 2024)

FTC Implements New Protections for Businesses Against Telemarketing Fraud and Affirms Protections Against AI-enabled Scam Calls – Final rule extends telemarketing protections to business-to-business calls; Commission also proposes new consumer protections against tech support scams pitched over the phone

The Federal Trade Commission today announced a final rule extending telemarketing fraud protections to businesses and updating the rule’s recordkeeping requirements in light of developments in technology and the marketplace. The Commission also announced a proposed rule that would provide the agency with significant new tools to combat tech support scams.

FTC News Release - FTC-PR-240307-2

PR-240307-2

Date: Mar. 7, 2024

Accessed: Sep. 1, 2024

Source URL:  https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-implements-new-protections-businesses-against-telemarketing-fraud-affirms-protections-against-ai

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FTC-PR-240307-2

FTC-Recovery Frauds

Advance Fees Categories Federal News Sources FTC FTC-24 FTC-2409 Recovery Frauds

FTC-Recovery Frauds (Sep. 2, 2024)

Don’t be Re-Victimized by Recovery Frauds

“We can get your money back.”

If you recently lost a portion of your savings or retirement nest egg to a cryptocurrency, forex, or binary options scam, an offer to recover your lost funds may sound very appealing. Unfortunately, for many victims of fraud, the offer may be another scheme that adds insult to injury. 

Recovery scams are a form of advance-fee fraud—when you are asked to pay upfront for the chance of getting a much bigger sum of money later. Recovery frauds target victims already harmed by other frauds.

If you’ve been a recent victim of fraud, be prepared to guard against these follow-on schemes.

FTC News Release - FTC-Recovery Frauds

FTC-Recovery Frauds

Date: Sep. 2, 2024

Accessed: Sep. 2, 2024

Source URL: https://www.cftc.gov/LearnAndProtect/AdvisoriesAndArticles/RecoveryFrauds.html

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FTC-Recovery-Frauds

FTC-PR-240227-2

( Consumer Awareness ) Artificial Intelligence Automators LLC Categories Companies in the News Federal News Sources FTC FTC-24 FTC-2402 Money Making Scheme Peregrine Worldwide LLC

FTC-PR-240227-2 (Feb. 27, 2024)

FTC Action Leads to Ban for Owners of Automators AI E-Commerce Money-Making Scheme – Settlement requires scheme owners and operators to turn over millions in assets for refunds to consumers harmed by bogus earnings promises

The owners of a money-making scheme that claimed to use artificial intelligence to boost earnings for consumers’ e-commerce storefronts have agreed to surrender millions in assets to settle the FTC’s case against them. In addition, all the businesses and two of their owners face a lifetime ban on selling business opportunities or coaching programs involving ecommerce stores.

FTC News Release - FTC-PR-240227-2

PR-240227-2

Date: Feb. 27, 2024

Accessed: Sep. 6, 2024

Source URL: https://www.ftc.gov/news-events/news/press-releases/2024/02/ftc-action-leads-ban-owners-automators-ai-e-commerce-money-making-scheme

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FTC-PR-240227-2

FTC-PR-240226-2

( Business Awareness ) Categories Companies in the News Federal News Sources FTC FTC-24 FTC-2402 Personal Protection Equipment (PPE) SuperGoodDeals.com Inc.

FTC-PR-240226-2 (Feb. 26, 2024)

FTC Action Leads to Ban for Company and Its Owner Who Failed to Ship PPE ‘Next Day’ at Height of Pandemic – Proposed court order would ban Kevin Lipsitz and SuperGoodDeals from selling protective equipment, requires Lipsitz to turn over more than $145,000

As a result of a Federal Trade Commission lawsuit, Kevin Lipsitz, who defrauded consumers by falsely promising “next day” shipping of facemasks and respirators to consumers at the height of the COVID-19 pandemic, will be banned from selling personal protective equipment (PPE) and be required to turn over more than $145,000 to the FTC.

FTC News Release - FTC-PR-240226-2

FTC-PR-240226-2

Date: Feb. 26, 2024

Accessed: Sep. 6, 2024

Source URL: https://www.ftc.gov/news-events/news/press-releases/2024/02/ftc-action-leads-ban-company-its-owner-who-failed-ship-ppe-next-day-height-pandemic

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FTC-PR-240226-1

FTC-PR-240226-1

( Business Awareness ) Albertsons Companies Inc. Categories Companies in the News Federal News Sources FTC FTC-24 FTC-2402 Mergers & Acquisitions The Kroger Company

FTC-PR-240226-1 (Feb. 26, 2024)

FTC Challenges Kroger’s Acquisition of Albertsons – Largest supermarket merger in U.S. history will eliminate competition and raise grocery prices for millions of Americans, while harming tens of thousands of workers, FTC alleges

The Federal Trade Commission today sued to block the largest proposed supermarket merger in U.S. history—Kroger Company’s $24.6 billion acquisition of the Albertsons Companies, Inc.—alleging that the deal is anticompetitive.

FTC News Release - FTC-PR-240226-1

PR-240226-1

Date: Feb. 26, 2024

Accessed: Sep. 6, 2024

Source URL:  https://www.ftc.gov/news-events/news/press-releases/2024/02/ftc-challenges-krogers-acquisition-albertsons

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FTC-PR-240226-1-2