FDA, FTC slam 7 companies selling bogus COVID-19 cures

Enlarge / CALGARY - DECEMBER 23: LITTLE BIG MAN, theatrical movie originally released December 23, 1970. The film was directed by Arthur Penn. Pictured, Martin Balsam (as Mr. Allardyce T. Meriweather), a traveling swindler and snake oil salesman. (credit: Getty | ABC Archive)

As the new coronavirus sweeps the US, federal regulators this week began cracking down on companies fraudulently claiming that their products prevent or treat COVID-19.

The US Food and Drug Administration (FDA) and the Federal Trade Commission (FTC) sent joint warning letters to seven companies making false claims.

"There already is a high level of anxiety over the potential spread of coronavirus," FTC Chairperson Joe Simons said in a statement. "What we don't need in this situation are companies preying on consumers by promoting products with fraudulent prevention and treatment claims."

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