As a follow up to our previous posts on digital assets and social media, the Federal Trade Commission recently published a Consumer Protection Data Spotlight on June 3, 2022. In the post, the FTC provides insights on the fraud reports submitted to the FTC from January 1, 2021 to March 31, 2022. According to the … Continue reading
In December 2021, our post Federal Reserve and social media, highlighted sections of the Federal Reserve Financial Stability Report which demonstrated the Fed’s focus on the role of social media and retail investors in equity market volatility. In March 2022, the Board of the International Organization of Securities Commissions (IOSCO) followed suit, and also turned … Continue reading
Creators of fraudulent crypto assets beware. A recent court decision supported investors, creators and marketers of legitimate crypto assets, and the integrity of the crypto asset market as a whole. While the creator of BitConnect remains at large and is facing his own indictment for his role in the scheme that allegedly defrauded investors of … Continue reading
In this age of social media, companies and brands have faced countless criticisms for their lack of transparency, copyright infringements disguised in the form of “flattery or inspiration” and we can’t forget the many inclusivity flops. Brands, including beauty brands, are now dedicating more of their marketing budgets to paying influencers for their “honest” reviews … Continue reading
We have previously written on social media account verification for businesses, in order to help customers deal only with the authentic brand. But what about authenticating your social media followers/users/fans/members? Unfortunately, there are currently “no methodologies available that would provide us with an exact number of non-actual member types of accounts,” according to LinkedIn’s 10-K … Continue reading
As we discussed in a recent post, “Social media overload”, social media has grown exponentially over the past decade and has caused businesses to change how they operate and how they make decisions. Social media has quickly become one of the most important marketing platforms, providing a convenient way for companies to reach broad audiences.… Continue reading
Engaging with customers online is quickly becoming the norm as consumers increasingly use social media to ask questions, seek customer service, and participate in dialogue with a business or their brand. The use of social media to deliver customer service allows businesses to be at the forefront of our digital age. That said, businesses could … Continue reading
The Social Media Law Bulletin is back! The ongoing interest of our readers as well as the increasing impact of social media led us to re-launch the Social Media Law Bulletin. We will be bringing you coverage of one or two items approximately each week, but in the meantime, we thought we would give you … Continue reading
Business owners using online consumer review platforms should be truthful and accurate, especially with respect to online reviews. On August 20, 2013, social media search-and-review service Yelp! sued solo practitioner Julian McMillan for allegedly posting fake reviews about his own law firm. Yelp claimed that in 2010, employees from McMillan’s firm posted positive reviews of … Continue reading
As commerce shifts to online shopping and consumers increasingly rely on user reviews, some researchers are predicting that by year end 10-15% of consumer reviews will actually be fake reviews (either positive or negative) paid for by advertisers or their agents. Gartner Says By 2014, 10-15 Percent of Social Media Reviews to Be Fake, Paid … Continue reading
The Computer Fraud and Abuse Act (“CFAA”), 18 U.S.C. § 1030 et seq., projects the common law tort of real property trespass into the virtual realm of computers. The CFAA has been successfully invoked for creation of fake user accounts on social network sites, email spam, email phishing, robotic data mining, and unauthorized hard-drive wiping. … Continue reading