How Can the News Media Help Protect Consumers?

All companies hate bad press and most seek to avoid it if at all possible. A single news media report on fraud, incompetence, negligence or other harmful actions by a business can ruin years of public relations work. The media protects consumers from fraud, incompetence and abuse by companies and Government agencies by investigating and reporting on incidents of wrongdoing by these entities.

Investigative journalists, also known as muckrakers or consumer watchdogs, typically keep companies and Government agencies in check by listening to complaints from their customers. Alternatively, if a reporter thinks something may be wrong they might start their own private investigation.

Investigative reporters look for evidence of fraud or incompetence by one of several ways:

• Posing as a customer to try out the services of the targeted entity. This gives the reporter a first hand experience of the problem, if there is any.
• Checking public records. This includes looking into lawsuits, official reports, securities exchange (SEC) filings, and Freedom of Information Act requests.
• Interviewing inside sources. Anonymous sources inside the company or Government, as well as whistleblowers, may also provide investigative reporters important and insightful information on the nature of fraud or incompetence within a company or Government agency.

Consumer watchdog journalists can work in a variety of venues. The most traditional types work in media outlets such as newspapers, radio and television. However they can also be private citizens who are unaffiliated, or not employed by any company. In the modern age, they can post investigative reports via web logs, or blogs, and in some cases investigative reporters can be anonymous.