Blog Posts Tagged with Payments and Billing

Through Consumer Sentinel we hear from people across the country about frauds they encounter in the marketplace. One thing we learn from these reports is how scammers want to be paid. People are telling us that they’re increasingly being told to pay with gift cards – specifically, by giving someone the PIN number off the back of a gift card. Often people are specifically asked for certain brands, like iTunes and Google Play cards.

For consumers who took out loans with online payday lender AMG, the company’s illegal tactics left many of them saying OMG. But finally there’s good news for AMG customers arriving in the form of $505 million in refund checks just mailed to people who borrowed money between January 2008 through January 2013. That’s the largest amount ever sent in a refund program run by the FTC.

The scheme started with a Craigslist ad for a rental property and ended with a $5.2 million judgment for violations of the FTC Act, the Restore Online Shoppers’ Confidence Act, the Fair Credit Reporting Act, and the Free Annual File Disclosures Rule.

The Cubs are in Los Angeles and the White Sox have the day off, but there’s still a lot happening in Chicago today. The FTC’s workshop Decrypting Cryptocurrency Scams is set to start at 1:00 PM Central Time at DePaul University. Speakers will explore how scammers are exploiting the interest in cryptocurrencies and what can be done to protect and  empower consumers. Can’t make it to the Loop Campus this afternoon?

It’s unfortunate, but it happens. First came cryptocurrency. Then came the cryptocurrency crooks. In the emerging cryptocurrency marketplace, what needs to be done to protect consumers from scams, schemes, and swindles? That’s the topic of a half-day workshop on June 25, 2018, in Chicago, and the FTC just announced the agenda.

Once bitten, twice shy. That fundamental principle of human behavior is why reputable businesses that work hard to earn consumers’ confidence should support the FTC’s ongoing efforts to fight fraud. According to the FTC’s 2017 Consumer Sentinel Data Book, consumers reported losing a total of $905 million to fraud last year. That’s close to a billion bucks people won’t be able to spend on legitimate products and services from credible companies.

So you’ve received a Civil Investigative Demand (CID) from the Federal Trade Commission related to a consumer protection matter. Now what? We appreciate that it can be daunting for any company – especially a small business – and we want to be as transparent as possible about the process.

One Direction had a hit with a song called “18,” but the FTC’s recent law enforcement and policy initiatives suggest that the agency will continue to pursue many directions in its efforts to protect consumers in ‘18. (Sorry. We’re expecting a fresh shipment of pop culture references in January.) In case you missed them – and in no particular order – here are ten FTC consumer protection topics of note from 2017.

The “before” photo showed a silver-haired lady in a wheelchair with a hand on her furrowed brow. “24 hours after” and she’s smiling and knitting on the sofa, thanks to a dietary supplement proven in a 1200-person clinical study to reduce or eliminate the symptoms of joint pain, hypertension, diabetes, and depression. And how’s this for a bonus? Users can “easily lose between 8-13 lbs. per week.”