Tagged: federal trade commission

April 29, 2026 @ 12:56 am By Omar Faridi  |  

The Federal Trade Commission (FTC) has recently released the latest statistics revealing that social media platforms have become the dominant channel for fraudsters targeting consumers, leading to unprecedented financial harm. The FTC revealed that in 2025 alone, individuals who fell victim to these schemes reported… Read More

December 18, 2025 @ 11:07 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) is now said to be taking action against Illusory Systems Inc. for allegedly failing to implement “adequate data security measures, leading to a major security breach in which hackers stole $186 million from consumers.” Under a proposed order settling the… Read More

September 7, 2025 @ 11:39 am By Omar Faridi  |  

The Federal Trade Commission (FTC) has recently taken decisive action against deceptive practices in the e-commerce and gig economy sectors, signaling a commitment to protecting consumers and ensuring fair business practices. Three significant cases highlight the agency’s efforts to address violations, ranging from inadequate seller… Read More

August 7, 2025 @ 6:46 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) has been actively combating fraudulent schemes that exploit vulnerable consumers, as highlighted by three recent announcements. These updates underscore a troubling rise in impersonation scams, a permanent ban on an e-commerce business opportunity scheme, and refunds for victims of a… Read More

November 2, 2024 @ 4:23 pm By Omar Faridi  |  

The Federal Trade Commission revealed recently that it is sending more than $2.5 million to consumers who were said to be “misled” by “deceptive claims” from credit services company Credit Karma. The FTC reportedly took action against Credit Karma back in 2022, alleging that the… Read More

August 7, 2024 @ 9:38 am By Omar Faridi  |  

As a result of a Federal Trade Commission lawsuit, the owners and operators of a sprawling credit repair operation known as Financial Education Services (FES) will end the practices that the FTC alleged “created a pyramid scheme and also violated the Credit Repair Organizations Act.”… Read More

July 29, 2024 @ 11:22 pm By Omar Faridi  |  

FTC Chair Lina M. Khan, alongside international antitrust enforcers and the Department of Justice, Antitrust Division, issued a statement affirming a commitment “to protecting competition across the artificial intelligence (AI) ecosystem to ensure effective competition that provides fair and honest treatment for both consumers and… Read More

June 24, 2024 @ 6:23 pm By Omar Faridi  |  

Federal Trade Commission (FTC) law enforcement actions have reportedly resulted in more than $324 million in refunds to consumers in 2023, the agency said in its annual report on refunds. The FTC Annual Report on Refunds to Consumers provides “a breakdown of the total amount… Read More

June 22, 2024 @ 8:50 am By Omar Faridi  |  

Federal Trade Commission data reveals that government impersonation scammers are targeting consumers for payments in cash, with the amount of cash reported lost to these scams nearly doubling from 2022 to 2023. The FTC data shows that consumers reported “losing $76 million when paying cash… Read More

May 20, 2024 @ 3:12 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) released its Fiscal Year 2023 Annual Report outlining the agency’s work to protect consumers and promote competition. FTC Chair Lina M. Khan said: “The FTC is focused on ensuring that American consumers, workers, and entrepreneurs can enjoy honest markets and… Read More

April 26, 2024 @ 8:43 am By Omar Faridi  |  

The Federal Trade Commission is taking action against bill payment company Doxo and two of its co-founders, charging that the company allegedly “uses misleading search ads to impersonate consumers’ billers and deceptive design practices to mislead consumers about millions of dollars in junk fees they… Read More

February 13, 2024 @ 5:29 pm By Omar Faridi  |  

Federal Trade Commission data show that consumers reported losing more than $10 billion to fraud in 2023, “marking the first time that fraud losses have reached that benchmark.” This marks a 14% increase “over reported losses in 2022.” Consumers reported losing more money “to investment… Read More

October 12, 2023 @ 10:39 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) have taken regulatory action against global credit profiling firm TransUnion (NYSE: TRU), claiming the company failed in regard to rental background checks. Additionally, the two agencies claimed TransUnion withheld the names of third parties… Read More

September 26, 2023 @ 3:41 pm By JD Alois  |  

The Small Business and Entrepreneurship Council (SBE Council) has issued a statement hammering the Federal Trade Commission (FTC) and its legal assault on Amazon. Earlier today, the FTC sued Amazon for “illegally maintaining monopoly power.” The FTC claims that  Amazon has pursued a “pattern of… Read More

August 17, 2023 @ 8:31 am By Omar Faridi  |  

The Federal Trade Commission will require Experian Consumer Services, which offers consumers access to their Experian credit information, “to pay $650,000 to settle charges it sent consumers unsolicited email without offering them a way to opt out of such messages, as required under the CAN-SPAM… Read More

April 16, 2023 @ 3:42 pm By Omar Faridi  |  

The Federal Trade Commission and the State of Florida have filed suit against Chargebacks911 “for unfairly thwarting consumers who were trying to dispute credit card charges through the chargeback process.” In a complaint filed in federal court, the FTC and Florida charged “that, since at… Read More

February 14, 2023 @ 3:11 pm By Omar Faridi  |  

More than $115 million in refunds are being “sent to consumers nationwide” as a result of a 2018 action the Federal Trade Commission and the U.S. Department of Justice brought against MoneyGram (NASDAQ: MGI) for “failing to crack down on scammers using their payment system.”… Read More

September 3, 2022 @ 10:35 am By Omar Faridi  |  

The Federal Trade Commission (FTC) has taken action against credit services company Credit Karma for “deploying dark patterns to misrepresent that consumers were ‘pre-approved’ for credit card offers.” The FTC alleges that the company “used claims that consumers were ‘pre-approved’ and had ‘90% odds’ to… Read More

August 1, 2022 @ 8:24 pm By JD Alois  |  

Earlier today, the Federal Trade Commission (FTC) announced it had reached a settlement with Opendoor (NASDAQ:OPEN) that proposed a $62 million settlement from the Proptech firm. Opendoor has agreed to the order. According to the FTC, Opendoor promoted its services by information consumers they could… Read More

June 4, 2022 @ 2:39 pm By JD Alois  |  

The US Federal Trade Commission (FTC) says that more than $1 billion has been lost to crypto scams since the beginning of 2021 impacting over 46,000 individuals. According to the FTC, the median individual reported loss stood at $2,600. The top cryptos involved in the… Read More