FTC Report lists initiatives to fight online crime
The Federal Trade Commission (FTC) released a staff report last month outlining the main area of its focus and concern for the coming decade. In the report, the FTC acknowledges the considerable challenges that rapid advances in technology are throwing up. Ensuring use of technology for good causes is going to be the biggest of many challenges, it admits.
The new report is important in many ways. It reveals many interesting trends that global business will take. It also reveals guidelines as to the role that the government agency hopes to play in the future.
Consumer Education
There is an ever-widening knowledge divide that is sweeping the world. For the future FTC aims to bridge this divide so services enabled by the new technology are freely and fairly available to all. It proposes to take more active steps in making consumers more aware of their rights. It also seeks to increase general awareness on unlawful business practices that have crept up in the online world.
Increase Role by introducing new legislation
Advances made by technology have made available a wide, new range of products and services. More importantly, it has also thrown up newer ways of marketing as also for collecting or making payments for the products. This introduces new risks like the risk of identities being stolen or unauthorized access to personal bank accounts among others. The organization is looking to be more involved by introducing new laws to deter such crimes from happening.
Monitoring of new channels of Marketing
Over the last few years, many new channels of marketing have opened up for businesses. As yet, these channels are not regulated. FTC is aiming to bring these channels within its ambit with the purpose of ensuring fair deals for the consumers. This should deter many fraudsters who presently conduct scams in the guise of businesses, online.
Increased cooperation with foreign agencies
FTC aims to widen its role globally by increasing its collaboration with foreign agencies in tackling international issues.
Encourage businesses to take up self regulation
FTC seeks to put a system wherein businesses would be encouraged to take up security measures which can ensure safe and fair interaction with the company for the customer.
The FTC Report reveals insights as to the direction the organization is going to take in the future. Businesses can help themselves by streamlining their activities according to these insights.
Download the Report here.
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