The rewards reaped from an appearance on "Shark Tank" can be immeasurable. Even businesses that fail to score a deal with an investor often experience the "Shark Tank" effect in the immediate aftermath of its episode's airing, where its sales and website traffic receive a significant boost. Scammers such as Slim Fast 180 have sought to take advantage of this exposure without putting in any of the work, going to extreme lengths to fool customers into thinking that they are a "Shark Tank-approved company.
The sharks themselves have taken to informing their audience of these potential deceptions. In two different videos posted in December 2022 and March 2023, the investors spoke out warning their viewers of the common tactics used by scammers, such as Photoshopping their products being used in the tank. But they're aware that's not enough to solve the growing dilemma. Longtime "Shark Tank" star and Dallas Mavericks owner Mark Cuban reposted one of the videos on his Twitter and called out the Federal Trade Commission and FTC chair Lina Khan for their inactivity on the matter. His tweet read, "Hey @ftc we have been asking for years for you to stop this. You awake @linakhanFTC?"
As of this writing, there hasn't been any response on the FTC's part. If you have doubts regarding a "Shark Tank" business, the easiest way to confirm its legitimacy is by visiting ABC's official site, which lists every company featured on the show. Additionally, you can report fraudulent activity online to the FTC.
