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FTC Economist Requests 85,000 Transparency Reports to Carryout In-depth Analysis on Fake Reviews

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FTC Economist Requests 85,000 Transparency Reports to Carryout In-depth Analysis on Fake Reviews

June 11
20:40 2021
The Federal Trade Commission is saddled with the responsibility of consumer protection in the United States. In keeping step with this, Economist Davesh Rava is conducting a study on the impact of fake reviews in the U.S. marketplace

Online shopping has become the norm in recent times. It is no surprise, and the global lockdown consequent on the outbreak of COVID-19 has presented shoppers with no other option. Businesses have latched onto e-commerce as a tool for business growth and sustainability today.

Before buying a product online, Americans can consult a large repository of customer ratings and reviews to be better informed about a product. A study that a one-star increase in a product’s rating on a consumer rating website leads to a 5-9 percent increase. Knowing this, many businesses and websites display fraudulent or paid reviews to lure unsuspecting customers.

The continued rise of fake online reviews has become a source of concern for online shoppers, and for the Federal Trade Commission (FTC), it is about rooting them out of the US Market. The Federal Trade Commission is the government agency responsible for enforcing U.S. antitrust law and promoting consumer protection.

As part of steps aimed at ridding the U.S. Marketplace of the presence and impact of fake reviews, Economist Davesh Raval has requested 85,000 transparency reports from The Transparency Company. Section 5(a) of the FTC Act prohibits unfair or deceptive acts or practices (‘UDAP’) in or affecting commerce, and Davesh Raval will use these reports in an in-depth analysis that is expected to create a sustainable roadmap for the FTC in tackling the upsurge of fake online reviews.

The operations of The Transparency Company are in line with those of the Federal Trade Commission. The Transparency Company helps identify illegitimate online reviews to protect businesses and consumers against fake online reviews. The company also strives to assist people to make better purchasing decisions and help online marketplaces display more truthful reviews.

Founded by Curtis Boyd, The Transparency Company uses A.I. and Machine learning to identify fake reviews on major review websites like Google and TripAdvisor. Online shoppers can make use of the website to identify businesses with fake reviews.

About The Transparency Company

Curtis Boyd founded the Transparency Company to provide affordable and quality software that can analyze the legitimacy of online reviews. The company seeks to empower consumers to make better spending decisions to prevent them from hiring low-quality companies that might otherwise cause harm in their lives.

Aligning with businesses having real reviews in the U.S. Marketplace is at the core of The Transparency Company’s values. The A.I. and Machine learning platform provide these businesses with a beacon assuring online shoppers that they are high-quality businesses worthy of customers’ hard-earned money.

To verify the nature of reviews by a business, please visit https://askfortransparency.com/.

For further information about The Transparency Company and the FTC partnership, please visit https://askfortransparency.com/our-story/ or send an email to [email protected].

Media Contact
Company Name: The Transparency Company
Contact Person: Curtis Boyd
Email: Send Email
Phone: 800-495-9413
Address:222 Pacific Coast Highway
City: El Segundo
State: CA, 90254
Country: United States
Website: https://askfortransparency.com/our-story/

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