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FTC Finalizes Rule Banning Fake Reviews Under Biden Admin, Imposes $51,744 Fines
Aug 14, 2024, 07:26 PM
The U.S. Federal Trade Commission (FTC), under the Biden administration, has finalized a new rule banning fake consumer reviews and testimonials, including those generated by artificial intelligence. This rule, announced on August 14, 2024, aims to enhance the reliability of online reviews by prohibiting the creation, purchase, or sale of fake reviews. It also targets the misuse of social media indicators, such as buying fake followers and views, which can mislead consumers and distort perceptions of social media influence. The FTC's regulation will empower the agency to enforce civil penalties against violators, with fines reaching up to $51,744 per violation. This measure is part of a broader effort to protect consumers and ensure fair competition among businesses. The rule is set to take effect in October 2024.
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