FTC Mulls Rewards for Those Who Identify Spammers

The Federal Trade Commission is considering rewarding people to rat on spammers.

But the FTC said in a report issued last week that the idea faces major obstacles: locating the spammer, collecting evidence that will stand up in court and offering a big enough reward to justify the risks, Information Week reported.

Snitches for the Internal Revenue Service have earned more than $35 million over the last 30 years. The IRS, for its part, credits the program for spurring delinquents to pay $2.1 billion in back taxes during the same timeframe, according to the FTC's director of internal communications.

At the same time, however, the Securities and Exchange Commission has had little luck with its reward program. In the last 10 years, only three bounties have been awarded.

Allen Hile, an assistant director in the Division of Marketing Practices at the FTC, said bounty programs have had mixed success. The problem is making the reward more profitable than the crime and securing funding for the initiative.

You may like these other stories...

AgFeed agrees to pay $18 million to settle SEC accounting fraud caseMichael Rapoport of the Wall Street Journal reported on Monday that AgFeed Industries Inc. has agreed to pay $18 million to settle US Securities and...
Many accountants struggle with payroll, either because they have too much of it or they don't want to do any of it. Either way, they are at odds with the needs of their business clients. Most clients are looking for a...
Hertz and Icahn make peaceThere won’t be any nasty, protracted proxy battle between Hertz Global Holdings and activist investor Carl Icahn. The rental car chain agreed last Thursday to give Icahn – who has...

Already a member? log in here.

Upcoming CPE Webinars

Sep 18
In this course, Amber Setter will shine the light on different types of leadership behavior- an integral part of everyone's career.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.