Scams Plague CBD Industry
The cannabidiol (CBD) industry is often called the “Wild West” due to a lack of standard regulations. It’s also thick with scammers trying to get rich quick who no nothing about the plant. According to the Food and Drug Administration (FDA), further regulations will be implemented soon, but until that happens, unscrupulous companies can take advantage of the public’s interest in CBD.
Be Wary of Swindlers
There’s more than one way to be fooled by a CBD company. One very important issue is the actual CBD content within products. In 2019, the FDA looked at popular CBD products and tested the accuracy of their labels. Among the products they examined that purported to contain a specific amount of CBD, more than half contained “less than 80% of the CBD amount indicated.” You may be paying top-dollar for “CBD” that’s little more than plain oil. Not to mention that people who need CBD for medical conditions will not get the relief they need.
You can also lose a lot of money if you trust the wrong CBD company. A standard scheme used by other industrues is to lure customers in with a free trial offer. They’ll send you a CBD sample, and all you have to do is pay shipping and handling fees. Many people miss the fine print that says they’ll be on the hook for a much heftier charge when their free trial ends. Or, in some cases, the company commits blatant fraud and charges the customer without informing them or giving them a way to cancel the payment.
A recent example is from a company that used images of a celebrity to instill trust in people and convince them to hand over their credit card information in exchange for a few CBD products. After charging a nominal shipping fee, the company then hit customers with multiple charges totaling more than £160.
Another important consideration is to look closely at the claims companies are making. While some CBD blends may include other substances like herbs or serotonin to help promote sleep, do not buy products claiming to “cure” any disease. Medical claims cannot be made at this time for CBD products, and many companies have received Warning Letters from the FDA due to this issue.
The Bottom Line
When you’re buying CBD, stick with well-known, reputable companies. All companies should publish independent testing data showing the quality of their products. Find a company that you feel comfortable with and don’t be afraid to ask questions.
Ask your doctor and dispensary if they recommend any companies or products. And take a look at our product reviews, which do a deep dive on different companies, highlights their pros and cons, and provides an in-depth look at what they offer.
Always be a vigilant consumer, ask questions, and be wary of any wellness products you buy.