10/26/2021 | News release | Distributed by Public on 10/26/2021 23:04
Companies offering work, training, business opportunities, investments, or other money-making opportunities often try to grab your attention by talking about how much money you can make. But all too often, the potential earnings they describe are exaggerated or even flat-out phony, and people who take the plunge instead lose significant time - and money.
The FTC is ramping up its efforts to stop companies from using false or misleading earnings claims to draw people into their business ventures. The agency sent notices to more than 1,100 multi-level marketing companies, business opportunities, franchises, investment coaching companies, and "gig" companies. The notices remind the businesses they must follow well-settled law when making earnings claims to potential participants, workers, and buyers.
Among other things, the notices tell the companies that they:
The FTC's cover letter makes clear to recipients that merely receiving a notice does not mean that a company did something wrong. But it also makes clear that the recipients are now on notice that if they use the illegal practices in the future, they can face penalties of up to $43,792 per violation.
Before acting on claims about potential earnings:
For more information, check out When a Business Offer or Coaching Program Is a Scam and Multi-Level Marketing Businesses and Pyramid Schemes. If you spot an income scam, please tell us at ReportFraud.ftc.gov.
Where can the list of companies be found?
Click on the blue highlighted words in the blog saying the "agency sent notices." That connects to our press release, which has more information about the notices to more than 1,100 multi-level marketing companies, business opportunities, franchises, investment coaching companies, and "gig" companies. A recipient's presence on the list does not in any way suggest that it has engaged in deceptive or unfair conduct.
Thank you very much, for your informative in need protection educations...
These SCAMS! are too far out of control, and overbearing. We the people, will always need to informed and educated as to being wise forever...
Thank you very much, FTC
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