Some of the biggest names in the gig economy could face significant fines — perhaps in the billions of dollars — if they’re found to have violated moneymaking claims, a Federal Trade Commission official told MarketWatch on Wednesday.
Those who received the notices include multilevel marketing companies, investment “coaches” and those who offer “ubiquitous ‘gigs’ that pitch a steady second income,” according to the FTC’s news release, which added that the notices were a reminder about the laws and do not imply wrongdoing. Each violation could result in a civil penalty of up to $43,792. So if a gig company — or any company — falsely advertised how much a worker can potentially earn in a nationwide commercial, for example, the fines could total billions of dollars, Greisman said.
And earlier this year, Amazon agreed to pay $61.7 million over FTC allegations that it withheld some tips from Amazon Flex drivers over more than a two-year period. As for what could spark an investigation, Greisman said the FTC welcomes complaints from any source, whether they’re competitors or current, former and prospective workers of a company.
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