Consumer News and Alerts

A federal court has temporarily shut down Click Profit, an online business opportunity scheme that falsely promised consumers massive profits through online sales. The Federal Trade Commission (FTC), which requested the action, alleges that the company misled consumers into paying tens of thousands of dollars for a fraudulent system powered by artificial intelligence.

According to the FTC complaint, Click Profit lured customers by claiming they could earn “passive income” through online platforms such as Amazon, Walmart, and TikTok. The company also falsely claimed to be affiliated with major brands like Nike and Disney to gain credibility.

“Click Profit misled consumers by falsely promising them guaranteed passive income using cutting-edge AI technology and exclusive brand partnerships,” said Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection. “Their deception caused individual consumers to lose tens of thousands of dollars while Click Profit’s operators enriched themselves.”

Expensive fees and false promises

Click Profit, which also operates under names such as FBALaunch, Automation Industries, and PortfolioLaunch, marketed its program as a “safe, secure, and proven” way to generate wealth. The company promised six-to-eight-figure earnings, even stating that consumers’ stores could be bought by venture capital firms for three to six times their value.

To participate, consumers were required to pay a “management fee” of at least $45,000, plus additional thousands for store inventory. However, most customers never saw a return on their investment, and some were left with credit card debt and unsold products. The complaint cites statistics showing that over one-fifth of Click Profit’s Amazon stores earned no money at all, and another third made less than $2,500 in gross lifetime sales.

The FTC also noted that Amazon blocked, suspended, or terminated about 95% of Click Profit’s stores, making it nearly impossible for customers to generate income. Even when stores were operational, Click Profit allegedly pressured consumers to reinvest any earnings into more inventory, further increasing their financial losses.

Threats and no customer support

Many customers found Click Profit unresponsive after making their payments and only received refunds after filing complaints with outside organizations such as the Better Business Bureau (BBB) or law enforcement. In some cases, the company threatened customers with lawsuits for speaking out, citing an unlawful non-disparagement clause in its contracts.

Legal action against operators

The FTC complaint names Click Profit’s co-founders Craig Emslie and Patrick McGeoghean, as well as partners Jason Masri and William Holton, accusing them of violating multiple laws, including the FTC Act, the Business Opportunity Rule, and the Consumer Review Fairness Act.

The FTC is now working to hold the defendants accountable and recover funds for victims who collectively lost millions of dollars.

“Range anxiety” has been one of the primary reasons consumers have been slow to embrace electric vehicles, but if claims by a Chinese company are true, EVs may have taken a big step forward.

EV firm BYD has introduced its “Super e-Platform” technology, which it said can reach charging speeds so fast that it can produce nearly 250 miles of range in about five minutes. That’s about how long it takes to fill a vehicle’s gasoline tank.

“The ultimate solution is to make charging as quick as refueling a gasoline car,” Wang Chuanfu, chairman and president of BYD, said in a press release.

Currently, Tesla’s superchargers offer a charging rate of up to 500 kilowatts, translating into around 168 miles of range in about 15 minutes.

BYD said it plans to build more than 4,000 ultra-fast chargers in China using the new technology but did not say when the project would begin.

Though the company’s claims have not been independently verified, investors appear to take them at face value. BYD’s Hong Kong-listed  stock rallied nearly 6% on the announcement.

Believe it or not, there's something worse than male pattern baldness. It's depression, plunging libido and shrinking genitals. Those are the symptoms doctors say are caused by finasteride, a popular hair-loss treatment heavily promoted by "telehealth" companies like Hims.com. The drug is sold commercially as Propecia and Proscar.

In a Wall Street Journal report, Dr. Justin Houman, a urologist at Cedars-Sinai Medical Center in Los Angeles, said the unpleasant side effects of finasteride are "very very common" and cautioned that young men should avoid it.

Finasteride is, it should be noted, a legitimate treatment for prostate enlargement, where the beneficial effects may outweigh the possible side effects. 

Risks of finasteride

One of the most widely reported risks of finasteride is sexual dysfunction, which includes:

• Reduced libido (low sex drive)
• Erectile dysfunction (ED)
• Decreased semen volume and fertility issues
• Delayed ejaculation

It also has serious mental health effects, including depression, anxiety and thoughts of suicide and possible cancer risks, according to the Mayo Clinic.

While finasteride can shrink the prostate and reduce the risk of low-grade prostate cancer, studies suggest it may slightly increase the risk of aggressive, high-grade prostate cancer in some men. The reason is unclear but may be due to delayed detection of cancerous cells.

Other studies, including one by the University of Illinois, suggest it may cut the risk of heart disease. 

Carnival barker tonics

Hair-loss cures are an old standby in the carnival barker school of health care and have most likely been around since the first human male started losing hair. But lately, they and other unproven and unregulated tonics have gained a certain air of respectability because of clever marketing by "cool" telehealth sites.

Telehealth products have expand the loophole long used by dietary supplements, which relieve consumers of millions of dollars per year for unproven substances that may not only be ineffective but also dangerous.

Since they're not legally drugs, supplements and many cosmetics aren't subject to regulation by the U.S. Food and Drug Administration and their safety and effectiveness are not guaranteed.

But finasteride is a prescription drug and is not approved for over-the-counter sale, so how are men buying it online? That's where telehealth companies come in. It's another miracle of technology that the old-fashioned carnival barker has been replaced by companies like Hims, which last year enjoyed $1.5 billion in revenue from more than 2 million customers. 

How they work

Many telehealth platforms offer finasteride through online consultations. These companies typically:

• Require you to fill out a medical questionnaire.
• Some may offer a brief video consultation with a doctor.
• If approved, they ship the medication directly to you (often as a subscription).

These services operate legally by connecting customers with licensed doctors or healthcare providers who write prescriptions, even though they have not seen the patient in person. 

Online pharmacies also sell finasteride and other prescription medications. The patient simply forward their physician's prescription. Compounding pharmacies can also brew up a custom version of a prescription drug under certain cicumstances. 

But a large network of shady sites, many operating overseas, also sell prescription medicines and may not screen patients effectively or at all. 

In the case of finasteride, it's important to take the drug only under a doctor's supervision. In many cases, it may be best to avoid it as a hair-loss treatment.

Why avoid it? Very simply, it is effective only as long as you take it. Stop taking the drug and your hair starts falling out again but the unpleasant side effects remain.

President Trump promised to shake things up and that's at least one promise he's delivered on. His tariffs on imports from Canada, Mexico and China have shaken up Wall Street and put stocks in a steep dive.

So is this the time to dump stocks and buy gold? Well, it might be if you like to sell low and buy high. On the other hand, no one ever knows how low stocks will go, so both gold and cash can be a good way to hedge your bets. Be sure to calculate the tax consequences of selling stock. You don't want to incur a big capital gains tab.

The advantage of gold is that it's considered a safe-haven asset, historically attracting investors during times of economic uncertainty, which is what we're living through right now. Gold is trading around $2,916 per troy ounce as of March 11, according to GoldPrice.org, reflecting a significant rise from previous years.

Meanwhile, the Dow Jones Industrial Average is down more than 450 points Tuesday afternoon, prompting an outbreak of angina in many households. The tech-heavy Nasdaq Composite index also fell into correction territory, meaning it fell from 10% from its most recent high, and the S&P 500 is nearing a correction.

Historically, economic uncertainty drives many investors toward gold, seeking stability amid market volatility.​ Investors who are well-diversified nearly always have some gold in their portfolio and there's no reason smaller investors shouldn't do the same, even if they don't unload all their equities.

These days, it is typical for investors to buy gold through exchange-traded funds, such as the iShares Gold Trust Micro and SPDR Gold MiniShares Trust.

Gold's performance and forecasts

Gold's price trajectory has been notably bullish.In early 2025, prices reached a new high of $2,915 per ounce, marking a 100% increase from the March 2020 low of $1,451 per ounce. This upward trend is anticipated to continue, with Goldman Sachs revising its year-end 2025 forecast to $3,100 per ounce, up from the previous $2,890.

Similarly, J.P. Morgan predicts an average gold price of $2,950 in 2025, potentially reaching $3,000 per ounce. These projections are underpinned by factors such as sustained inflation, geopolitical risks, and robust demand from central banks.​

Still, the World Gold Council has cautioned the rally may cool in 2025 after gold's stellar performance in 2024.

Investment considerations

While gold's recent performance and optimistic forecasts are compelling, potential investors should approach with caution, as they would with any investment.

David Rosenberg, founder of Rosenberg Research, advises following Warren Buffett's prudent investment strategy, emphasizing the importance of "de-risking" portfolios during uncertain economic times.

Rosenberg, in a Marketwatch report, highlights the necessity of increasing cash reserves and investing in defensive sectors, including assets like gold that traditionally perform well during periods of instability.

Keep in mind that market corrections can occur, and gold is not immune to price fluctuations.Factors such as changes in interest rates, currency strength, and shifts in investor sentiment can influence gold's value. Therefore, diversification remains a key principle in investment strategies, ensuring that portfolios are balanced across various asset classes to mitigate potential risks.​

Newcomers considering exposure to gold without directly purchasing the physical metal, investing in gold mining companies presents an alternative. Others argue that, although it's a little bulky and needs careful handling, actual, physical gold is still king. ConsumerAffairs reviews gold dealers​ here.

Be bold but careful

Given the current economic landscape, characterized by trade tensions and inflationary pressures, gold continues to serve as a viable hedge against uncertainty.The metal's strong performance and favorable forecasts suggest potential for further appreciation.However, investors should consider a diversified approach to their portfolios.

Consulting with financial advisors and conducting thorough research are prudent steps to ensure alignment with individual financial goals and risk tolerance.​

Losses from fraud, such as imposter scams and identity theft, reached record amounts last year.

Consumers reported losing more than $12.5 billion to fraud in 2024, a 25% increase from more than $10 billion in 2023, according to a yearly report by the Federal Trade Commission.

Victims filed the reports to the FTC, other government agencies and organizations such as the Better Business Bureau, but the reports don't capture all fraud in the U.S.

If you're a victim of fraud or identity theft, you can report it via the website ReportFraud.ftc.gov.

The FTC said the higher losses are because more people said they lost money since reports on fraud and identity theft have stayed stable at around 3.7 million over the last three years.

In 2024, around 38% of the reports involved a loss, up from 27% in 2023 and the highest share on record.

Median losses have also trended higher, reaching $497 in 2024 versus $311 in 2020.

What are the most common types of fraud?

Imposter scams, when fraudsters pretend to be businesses, governments or other organizations, was the most common scam.

The FTC said losses from government imposter scams in particular rose by $171 million in 2024 from 2023.

Imposter scams were followed by online shopping scams and business and job scams.

Employment-agency scams saw major growth, with reports tripling between 2024 and 2024 and losses jumping to $501 million from $90 million.

For the second year in a row, email was the most common way scammers reached people, accounting for a quarter of the fraud reports and $502 million in losses.

It was followed by phone calls, accounting for 19% of the reports, and text messages, accounting for 16%.

Younger people were more likely to lose money than older people: 44% of people aged 20 to 29 reported losing money, versus 24% among people aged 70 to 79.

Still, losses for older people was higher: People aged 70 to 79 reported a median loss of $1,000, compared with $417 for people aged 20 to 29.

Where is fraud happening more in the U.S.?

Fraud is more rampant in scattered parts of the U.S.

Florida had the highest rate of fraud with a rate of 2,163 reports per 100,000 peoople in 2024, followed by Georgia (2,108), Delaware (1,876), Nevada (1,867) and Maryland (1,799).

South Dakota had the lowest rate of fraud reports with 676 reports per 100,000 people, followed by North Dakota (696), Iowa (715), West Virginia (836) and Kansas (848).