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Stretch Your Dollar: FTC issues warnings to companies from cashing in on COVID-19 concerns

Stretch Your Dollar

Be careful before you spend! Strong warnings from the Federal Trade Commission continue aimed at companies that may be trying to profit off of fears over COVID-19. We are stretching your dollar with a look at what you need to know to protect your family!

The Federal Trade Commission has sent out at least 35 more letters warning marketers nationwide to stop making unsubstantiated claims that their products and therapies can treat or prevent the coronavirus.

Most of the recent letters target so-called treatments offered in clinics or medical offices including IV Vitamin C and D infusions, supposed stem cell therapy, and vitamin injections that may, at first glance, appear to be based in medicine.

However, the FTC says there is currently no scientific evidence that these or any products or services can treat or cure COVID-19, therefore the claims violate the FTC Act.

The commission advises those who get the letter to immediately stop making all claims that their products can treat or cure the coronavirus and notify the FTC within 48 hours about the specific ways they’re addressing the agency’s concerns.

The letters go on to say that if the false claims don’t stop, the commission may seek a federal court injunction and an order requiring refunds to consumers. In total, the commission says it’s sent out similar warnings to more than 160 companies and individual people as part of the FTC’s battle against COVID-19 related scams.

Once again if you see something like this or other potential scams you are asked to report it to the FTC.

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