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FTC examines crowdfunding

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Crowdfunding is the use of online platforms to fund a project or cause by raising money from a large number of people.

As part of its FinTech series, the FTC will take a closer look at crowdfunding during a half-day forum today, October 26. We’re bringing together industry participants, consumer groups, researchers, and government representatives. The forum will examine the various models of crowdfunding, its potential benefits, and possible consumer protection concerns. Our Office of Technology Research and Investigation will give a presentation about crowdfunding campaigns. The event also will feature a panel on peer-to-peer payment systems, which will examine the trends, benefits, and potential issues associated with these popular platforms.

For more information, please visit the workshop webpage. This event will be webcast.

The FinTech Forum series is part of the FTC’s ongoing work to protect consumers taking advantage of new and emerging financial technology. As technological advances expand the ways consumers can store, share, spend, and borrow money, the FTC is working to protect consumers, while encouraging innovation.

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Comments

Very helpful site, except have question: How does one stop incessant Junk Mail coming to home mail box? Will try sending Note to Stop Sending It Again?

This FTC article explains how to stop some unsolicited mail, email and phone calls.

hello my minor sons were scammed by a fraud go fund me page, and another crowdfunding page, after there fathers death. almost 50,000 was raised. i contacted police, who refered my to att general, charities, who then said they dont look into to crowdfunding, then i emailed them a article where gov said to contact charities burue, they did not even look into it, and wouldnt give me a reason why saying they dont have resorses. but went after a crowdfunding fraud with 1200$, refused to give a reason why. i contacted a lawyer who wanted a 8,000 retainer, and over 50,000 $ has been raised via go fund me and collected. i dot know what else to do, tis is my sons collage tutition and i was owed 25,000 in arears for child support prior to there fathers death and i have no savings. i dont understand why no one will take it,if anyone can help please email if anyone has any idea of where to go ext.

You could contact the law enforcement and Attorney General offices again, or look for a legal aid lawyer in your area.  The State Bar Associations website is another resource. This list of State Bar Associations will show the bar association in your county. You can call and ask about finding a lawyer.You might want to talk to someone at a local TV station that covers consumer stories or local news stories. 

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