Scam Alerts and News from Coventry Trading Standards - 20 September 2016

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Scam Alerts and News from Coventry Trading Standards - 20 September 2016

In this issue:

Ransomware advice

ransom

Advice for buyers from online classified ads

laptop

After a recent report in the local press, Trading Standards is offering advice about buying from popular online classified ad sites.

if you buy goods from these sites, always make sure that you: 

  • Check the goods and satisfy yourself that they are in working order and good condition before you hand over your money.
  • Check that goods match their description.
  • Walk away if the seller does not give you an opportunity to check what you are buying or if you suspect that someone pretending to be a private seller is actually a trader. Unscrupulous traders can pretend to be private sellers to avoid responsibility for resolving problems if goods are faulty, damaged or not fit for purpose. 
  • Never pay for goods (including by a money transfer) before collecting them. If the seller insists you pay by vouchers such as a paysafe card the seller only needs the reference code to get the cash, even if you have the physical voucher, so do not disclose this information.
  • Print or save a copy of the advert in case you have problems later 
  • Try and stay in control and don’t let a seller rush you into making a decision or parting with your cash before you are ready.

Remember - buying  items by these means is risky, so do all your homework first, and follow the advice given above.

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Gas Safety Week 2016 – are you and your family safe?

gas safety week

Coventry’s Trading Standards team are making the city’s residents aware of the risks when it comes to gas appliances in their homes as part of national Gas Safety Week (19-25 September)

The sixth annual Gas Safety Week will see organisations from across the UK work together, to encourage all gas consumers to arrange an annual gas safety check. There will be a particular focus on encouraging people to reach out to their friends and family, be they elderly parents or a disabled neighbour, to ensure they are gas safe. 

As part of the campaign, Coventry Trading Standards recently purchased a second hand gas cooker from a local shop. When tested, it failed.

Read the full article.

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Young people warned over 'binary options' investment fraud

Binary

Trading Standards is warning residents and groups working with young people about a new scam where social media users are tricked by con artists pretending to play the stock market.

Nationally, a warning has been issued about fraudsters using social media networks to encourage young people to invest in binary options, also known as Forex trading, in which an investor bets on commodity value changes. 

In genuine Forex trading, which can take just a few minutes, an investor 'calls' or 'puts' an option, respectively betting on it rising or falling. If the investor predicts incorrectly they will lose all the money they have placed. Although binary options are being advertised as an investment, they are actually a form of gambling on the markets.

Fraudsters have set up fake profiles online and pose as successful binary option traders. They seek out potential victims and offer the chance to invest and send off money. Initially their victims are told the short term investment was successful to encourage them to send more money. In some instances the fraudsters also demand further funds in order to release the victim’s money.

No trades are believed to actually take place, and victims are asked to pay either via a bank transfer, direct to another bank account controlled by the fraudster, or via a money transfer agent such as MoneyGram or Western Union, all untraceable.

As soon as a victim becomes suspicious and asks for their money back, the fraudster will block them on social media.

Binary Options Trading is not regulated by the Financial Conduct Authority and as such anyone believing they have invested will not have access to the Financial Services Compensation Scheme, leaving people out of pocket and with no recourse to the investment watchdog or compensation.

Trading Standards advise residents to be suspicious of any approach which is made via social media as no reputable brokers would do this. Never give out personal details and never agree to anything or send money up front, without making your own enquiries into the company or individual first.

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Recall: “All Purpose Seasoning” due to incorrect allergen labelling

Allergy Alert

TRS is extending the recall of its “All Purpose Seasoning” to include all batch and date codes of 100g and 400g pack sizes. This is because the product contains mustard and celery which are not emphasised correctly from other ingredients within the ingredients list. This means the product may pose a possible health risk for anyone with an allergy to mustard and/or celery.

Product: All Purpose Seasoning
Pack size: 100g and 400g
Best Before: All date codes
Batch code: All batch codes

Advice: If you have bought the above product and have an allergy to mustard or celery, do not eat it. Instead return it to the store from where it was bought for a full refund. 

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For more information on scams, visit: www.coventry.gov.uk/scams

How to report scams