Business Blog

There was a twisted kind of accuracy in one of the company names used by a Phoenix-based outfit that peddled business opportunities. It was called “Building Money” and build it they did. The problem was that they built it for themselves – and not for the older consumers, military veterans, and folks on fixed incomes the FTC says they bilked out of millions of dollars.

Threats of imprisonment, warnings about extortion, and a security team allegedly comprised of ex-Israeli Special Ops trained in Krav Maga? It sounds like an action-packed movie plot, but it’s all related to a complaint filed by the FTC. And you’ll never guess the nature of the defendants’ business.

They sell patent and invention promotion services – or at least that’s what defendants World Patent Marketing, Desa Industries, and CEO Scott Cooper claim.

The scene is the west coast, the subject is emerging technology, and AI is in the title. But it’s not the 2001 Spielberg sci fi film.

Financial technology remains a hot topic for consumers, offering the possibilities of increased convenience and access to financial services at a lower cost. As part of its FinTech Forum series, the FTC continues to promote public discussion of the ways in which innovative FinTech services – many provided by non-banks and technology companies within the FTC’s jurisdiction – can benefit consumers and the potential issues for stakeholders to keep in mind.

When internet fraudsters mimic a legitimate business to trick consumers into giving out their personal information, it’s called phishing. It’s not just a problem for consumers, but for the companies the scammers are impersonating too. The FTC has long provided advice to consumers about steps they can take to avoid phishing scams. But what should you do if customers contact your company upset that they responded to a phishing email from a scammer impersonating your legitimate business?

Phishing emails can harm businesses whose identities are spoofed. Don’t want that to happen to your business? Read the new Staff Perspective from our Office of Technology, Businesses Can Help Stop Phishing and Protect their Brands Using Email Authentication.

Americans are among the most generous people in the world, contributing more than $373 billion to charity in 2015, according to The Giving Institute. Not only are Americans giving more to charity, but evolving marketing practices and new technologies have introduced different ways for organizations to accept donations and new challenges for consumer protection law enforcement and education.

To facilitate the transfer of data, many U.S. companies that do business internationally participate in the Asia-Pacific Economic Cooperation Cross-Border Privacy Rules (CBPR) system. It’s voluntary, of course, but if companies say they participate, that representation – like other objective claims – must be truthful. That’s the lesson of three proposed settlements just announced by the FTC.

Need to verify an applicant's employment or income history? Checking to see if a candidate has a criminal history or civil judgments?

If you get information from a company that compiles it so you can make eligibility determinations, you must comply with the Fair Credit Reporting Act (FCRA). That means no double-dipping. If you get a consumer report for one purpose, don’t use it for a different purpose.