Federal Trade Commission staff filed a comment on a Notice of Proposed Rulemaking published by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury, in which FinCEN proposed a rule to clarify and strengthen existing customer due diligence requirements for financial institutions under the Bank Secrecy Act. Among other requirements, the proposed […]
Tag Archives: Finance Bureau of Consumer Protection Consumer Protection Payments and Billing
FTC Charges Payment Processors Involved in I Works Scheme
The Federal Trade Commission has charged seven defendants with illegally processing credit card payments on behalf of a massive Internet scam that allegedly bilked millions of dollars from consumers by repeatedly charging them for “trial” memberships they never ordered. Three of the defendants have agreed to settle the FTC’s charges. According to a complaint filed […]