Congressional Delegation Writes to FTC on Impersonation Fraud
In 2022 alone, impersonators caused damages estimated at $2.6 billion
Last week, after advocacy from members of the American Society of Association Executives (ASAE) and its public policy team, the Nevada Congressional delegation wrote a delegation letter to the FTC calling on them to take action on the issue of fraudulent business impersonation. According to the letter, business and government impersonators cause damages estimated at $2.6 billion in economic losses in 2022 alone — a nearly 50-percent increase over 2021.
In May, Michelle Mason, FASAE, CAE, ASAE's president & CEO, teamed up with the executives in the association community to testify in support of FTC’s proposed rule to prohibit business impersonation and addressed how these fraudulent activities damage revenue-generating events, tarnish organizational and industry reputations and violate innocent consumers who play their part in the economy.
ASAE applauds the bipartisan efforts of the Nevada delegation to urge the FTC to finalize the rulemaking as soon as possible. Follow @PowerofAssociations to learn more.
This article was provided to OSAP by ASAE's Power of Associations and Inroads.