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The OFT has announced that it is looking into the business practices of a number of companies who offer to buy gold from consumers using the postal service.
Case reference number: CMG/0003
Start date: November 2009
Next milestone: We have completed our review of the information we have received from traders. We will be providing an update on our investigation in early August.
Summary of work/background
The OFT has announced that it is looking into the business practices of a number of companies who offer to buy gold from consumers using the postal service.
The OFT has written to a number of companies asking for information to consider whether the companies are complying with the law. We are currently reviewing these responses and considering our next steps. For example, if we consider that the companies are infringing consumer protection legislation we can engage in consultation to bring about a cessation of the breaches and seek undertakings or, alternatively, seek an enforcement order.
No assumption should be made that any individual company has been found to have breached consumer protection legislation at this time.
The OFT is unable to provide advice or resolve individual complaints for consumers. Consumers can seek advice from Consumer Direct (tel: 08454 04 05 06, www.consumerdirect.gov.uk) or obtain independent legal advice.
Related documents
See the press release.
See the Q&As.
Team Leader
Avril O'Meara (020 7211 8492, Avril.OMeara@oft.gsi.gov.uk).
Project Director
Juliet Young (020 7211 8567, Juliet.Young@oft.gsi.gov.uk).
Senior Responsible officer
Heather Clayton (020 7211 8826, Heather.Clayton@oft.gsi.gov.uk)
or email: GoldPost@oft.gsi.gov.uk.
Media enquiries
Any media enquiries should be directed to a member of our Press Office
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