00:00It's Benzinga, and here's what's on the block.
00:02The FTC voted unanimously to ban fake reviews such as those generated with AI technology
00:08and other misleading advertising practices.
00:11This includes banning marketers from paying for positive or negative reviews.
00:15The ban also prohibits exaggerating influence by paying for bots to inflate follower counts
00:19on social media.
00:21Violations could result in fines per infraction, meaning penalties for hundreds of thousands
00:25of fake reviews on a site could add up quickly.
00:28Amazon has already sued over 10,000 groups brokering fake Facebook reviews for sellers
00:33on its site.
00:34Review sites like Yelp support the ban, hoping it creates a fairer playing field for honest
00:38businesses.
00:39For all things money, visit Benzinga.com.
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