Federal Trade Commission building in Washington, D.C. Photo: Diego M. Radzinschi/ALM FTC Should Limit Impersonation Rule's Proposed 'Reason to Know' Provision, Tech Groups Say
"While this knowledge requirement may be intended to prevent strict liability against third parties who supply goods or services, we are concerned that it lacks sufficient clarity and could expose legitimate firms to inappropriate penalties," the Financial Technology Association told the agency.
April 30, 2024 at 03:21 PM
4 minute read
Regulation
Software technology trade groups are warning that companies could face "inappropriate penalties" under the Federal Trade Commission's proposed rule that would impose liability on firms with "knowledge or reason to know" that a customer will use their goods or services to perpetrate an impersonation scam.
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