FTC Takes Down Crowdfunding Scammer
Techcrunch is reporting that the Federal Trade Commission, the US government department tasked with protecting consumers, has taken action against a failed crowdfunding project.
Crowdfunding as a concept worries me. Backers take all the risk and gain none of the rewards. It's an environment rich in pickings for scammers and chancers. Too often we hear stories of projects that failed to deliver what was promised or, far worse, never had any intention of doing so.
Now the FTC has signalled its intent to regulate crowdfunded projects there might be some protection for consumers still willing to risk their cash.