The Federal Trade Commission (FTC) has approved new regulations to combat fake social media influence, targeting influencers who use fake followers, views, and likes. The rules, set to take effect in October, prohibit the sale or purchase of fake social media indicators, such as followers or views generated by bots or hijacked accounts. Violators could face fines up to $50,000 per violation. Additionally, the regulations ban the creation or purchase of AI-generated fake reviews by individuals without actual experience with the product or service. The FTC aims to crack down on deceptive practices that mislead consumers and harm honest competitors. The move comes after years of efforts to tackle the issue of fake reviews and boosted social metrics. The crackdown also extends to celebrity testimonials, company insiders' reviews, and review websites. The FTC's Chair, Lina Khan, emphasized the importance of combating fake reviews to protect consumers and maintain a fair marketplace. Read more AI-generated news on: https://app.chaingpt.org/news

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