Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump lashes out at Crockett, renews call for...
Trump goes after Zelenskyy over ‘land swapping’ dispute,...
Democratic whistleblower told FBI that Adam Schiff approved...
MORNING GLORY: Trump meets Putin amid an era...
‘Things need to change’: Senate Democrats sharpen criticism...
Mamdani zings Cuomo in rent-stabilized housing spat during...
Unearthed emails reveal White House nixed Biden visiting...
Strong drilling targets identified next to high-grade gold-copper...
Seymour Lithium Project Achieves Permitting Milestone
Acquisition of Silver Extraction Technology
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

DOJ and FTC warn consumers of fraud and price gouging risks ahead of Hurricane Milton

by admin October 11, 2024
October 11, 2024
DOJ and FTC warn consumers of fraud and price gouging risks ahead of Hurricane Milton

As Hurricane Milton approached landfall in western Florida on Wednesday, the Biden administration warned consumers and businesses of the heightened risk of potential fraud, price gouging and collusion that accompanies major natural disasters.

“Wrongdoers are looking to exploit opportunities and victims of natural disasters for their own personal gain,” U.S. Attorney Ronald C. Gathe Jr. for the Middle District of Louisiana said in a statement.

Federal Trade Commission chair Lina Khan said the FTC is “hearing troubling reports of price gouging for essentials that are necessary for people to get out of harm’s way — from hotels to groceries to gas.”

By noon ET on Wednesday, nearly a quarter of gas stations in Florida were out of gas, according to Patrick De Haan, an oil and gas analyst who tracks pump supply.

“Companies are on notice: do not use the hurricane as an excuse to exploit people through illegal behavior,” said Manish Kumar, a deputy assistant attorney general in the Justice Department’s Antitrust Division.

Most states have laws intended to curb price gouging, with many of these restrictions tied to declared states of emergency.

Several major airlines and retailers have told CNBC in recent days that they froze prices in advance of the storm.

“Once we have any emergency situation, all of our prices are freeze,” Kelly Mayhall, president of Home Depot’s Southern division told CNBC Wednesday.

Amid a historic hurricane season, the Biden administration cited a number of issues for consumers to be on the lookout for, including fraudulent charities that claim to be soliciting donations for disaster victims, scammers trying to get personal information or money, and exorbitant pricing for necessities.

“Any company or individual that tries to exploit Americans in an emergency should know that the Administration is monitoring for allegations of fraud and price gouging and will hold those taking advantage of the situation accountable,” Vice President Kamala Harris said in a statement on Wednesday.

Hurricane Milton was moving through the Gulf of Mexico as a Category 4 storm early Wednesday afternoon, and was expected to hit the western Florida Gulf Coast sometime between 10 p.m. and 2 a.m. ET, according to NBC News meteorologists.

The National Hurricane Center warned that evacuations and other precautions should have been completed by early on Wednesday.

In September, Hurricane Helen caused widespread devastation across the South, killing more than 230 people. North Carolina Attorney General Josh Stein has also warned of price gouging in his state.

This post appeared first on NBC NEWS

previous post
TD Bank pleads guilty in money laundering case, will pay $3 billion in penalties
next post
Boeing withdraws contract offer after talks with union end without a deal

You may also like

Ad revenue should stabilize for media companies in...

December 31, 2024

Microsoft’s Satya Nadella says job cuts have been...

July 26, 2025

Vanguard fined more than $100 million by SEC...

January 18, 2025

Sports gambling takes a toll on Americans’ checkbooks,...

August 27, 2024

Family offices are giving top staff equity, profit...

July 31, 2024

Amazon’s Zoox robotaxi unit issues software recall after...

May 7, 2025

Starbucks announces several changes, including plans to cut...

January 31, 2025

5 new Uber features you should know —...

May 15, 2025

Netflix ad-supported tier has 70 million monthly users...

November 13, 2024

Amazon increases average pay for warehouse workers and...

September 23, 2024

Recent Posts

  • Trump lashes out at Crockett, renews call for cognitive test
  • Trump goes after Zelenskyy over ‘land swapping’ dispute, lays out ‘feel out meeting’ with Putin
  • Democratic whistleblower told FBI that Adam Schiff approved classified leaks to target Trump
  • MORNING GLORY: Trump meets Putin amid an era done away with John Quincy Adams’ ‘abroad’
  • ‘Things need to change’: Senate Democrats sharpen criticism of Israel as humanitarian concerns grow

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (867)
    • Investing (2,729)
    • Politics (3,369)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.