The Mexican Federal Consumer Protection Bureau ("PROFECO"), and its U.S. counterpart, the Federal Trade Commission ("FTC"), signed an agreement to carry out joint actions to benefit consumers from both countries.
This agreement intends to protect the most vulnerable users, such as the Mexican community living in the United States as well as senior citizens; likewise, the agreement intends to promote the program "Who's Who in Money Sending" (Quién es Quién en el Envío del Dinero,) and to regulate timeshare services and electronic commerce.
The agreement will allow users to be informed of the market situation through alerts issued by such entities through the means of their choice.
In the case of Mexico, if any of the following three agencies: PROFECO's Verification Unit, the Federal Commission for Protection Against Sanitary Risks or the National Service for Agriculture and Food Health, Safety and Quality, performs an analysis on a product and determines that it cannot be sold because it endangers the health or safety of consumers; or if a company finds a problem with certain product and informs the relevant authorities, an alert will be issued.
This information is published immediately at the PROFECO website and replicates in press releases, in the Journal of Consumer, in both printed and online versions, and through social networks like Facebook and Twitter.
Also, these alerts will be made available to users in the United States and Canada, allowing consumers of domestic products to become aware of the risks that exist in the market, to avoid being victims of a fraud or bad business practices.