This isn’t the first time we’ve mentioned this issue, but it’s now serious enough for the Financial Conduct Authority (FCA) to want to ban it.
The FCA has suggested that ‘opt-out’ selling, where a customer has to untick a box to avoid buying something, is earning £108million a year. Almost a fifth of those falling for the scam are completely unaware of having done so.
More mis-sold deception
We've already commented at length on the mis-sold PPI policy disaster. Banks and building societies have seemingly found a new way to dupe their customers.