[Alpha Biz= Reporter Kim Minyoung] On June 18th, the Fair Trade Commission (FTC) announced plans to recruit 60 consumer law enforcement monitors to combat "shrinkflation" and monitor potential violations of consumer laws.
The recruited consumer law enforcement monitors will focus on practices such as shrinkflation, where product sizes are reduced without corresponding price adjustments, misleading or exaggerated online advertising, and unregistered installment sales practices in areas like travel and prepaid installment transactions.
Their responsibilities will include identifying non-compliance in these areas, reporting violations to the FTC, and assisting in investigations. Upon receiving reports, the FTC will request businesses to voluntarily rectify their practices. For clear violations with significant consumer harm potential, formal legal actions will be pursued.
Applicants for these positions must be adults aged 20 or older and can apply through the FTC website until June 28th. Selected monitors will undergo training on reporting procedures, guidelines, and precautions before commencing their monitoring activities in July.
AlphaBIZ Kim Minyoung(kimmy@alphabiz.co.kr)
