For years now, ads on social media have been a concern for many. Ads for fake products to piracy, just to name a few issues. Now the FTC has announced that they are considering cracking down on social media advertising, especially when it comes to fraudulent health-care products, financial scams, and fake goods.
Here is what the FTC posted on its website today:
6(b) Orders Concerning Deceptive Advertising on Social Media: The Commission will vote on whether to issue 6(b) Orders to eight social media and video streaming platforms concerning how they monitor and review deceptive advertising on their platforms. Specifically, the Orders will examine the companies’ ad review practices and what, if any, measures they have taken to detect, prevent, and reduce deceptive advertising on their platforms, including advertising related to fraudulent health-care products, financial scams, and fake goods.
The FTC will meet to discuss this issue on March 16th, 2023. You can submit comments through Tuesday, March 14th, 2023, at 8 pm Eastern HERE.
Increasingly the FTC has been looking at social media and what ads are being shared online. This is likely just the first step in what will be a long process to ensure what you see on ads are real and trustworthy.