Two FTC Rulings that Impact Associations
The Federal Trade Commission (FTC) has recently passed two rulings that impact the association space: Business Impersonation / Fraud and Banning Non-Compete Agreements.
Business Impersonation / Fraud
The FTC Rule on Impersonation to combat scams was passed earlier this spring and went into effect April 1. Impersonation includes scammers selling fake membership lists or hotel room blocks. The FTC also shared new data on the most common ways consumers are targeted by these treacherous scams. Combined, reported losses to these impersonation scams topped $1.1 billion for the year, more than three times what consumers reported in 2020. Additionally, the ruling includes a method to report fraud, scams and bad business acts: ReportFraud.ftc.gov
Read More