The Advertising Standards Agency (ASA) has taken action against Cash for Gold company Weston Knightly, trading as The British Gold Refinery, for misleading advertising and spurious scrap gold prices.
The adjudication, published on the ASA website refers to website content and online advertising, published between May and July 2011.
Three complainants challenged that their advertising was misleading because customers were not clearly advised they would have to pay an administration fee if they wanted their gold returned. The ASA observed that if an offer is rejected, the customer will be liable to an administration fee of £35 + VAT before items are returned and that this should be prominently displayed, rather than hiding it within their Terms and Conditions. They also upheld a complaint regarding an unsubstantiated advert, stating "We pay 70% more".
More reading:
- The scam behind the gold buying comparison websites
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- The Cash for Gold tricks we think the OFT should be investigating
- British Gold Refinery featured on BBC1’s Rip-Off Britain program
- Why 'cash for gold' companies often fail to deliver
- Company behind CashMyGold.co.uk struck off
- Tesco Gold Exchange
- Tesco Gold Exchange don't recognise 21ct gold
