THE Office of Fair Trading has issued a renewed warning about advertising scams.
Isle of Man businesses claim they have been duped into buying advertising space in bogus publications.
The OFT is urging firms to take greater care before agreeing to purchase advertising space in year planners, guides, maps, directories being pu
blished by off-Island agencies.
>> Elderly woman receives 200 scam letters in two weeks3 September 2008Its latest warning follows allegations that cold-calling sales personnel have tried to encourage businesses to sign up for a safety publication by falsely claiming it included an advertisement by the Isle of Man Fire and Rescue Service.
OFT chairman Bill Henderson MHK, said: 'Despite repeated warnings, there are still instances of local businesses agreeing to purchase advertising space in what turn out to be bogus publications without knowing who they are doing business with and without checking that any organisations mentioned by the sales people are actually involved.
'Unfortunately, many of the businesses who do contact the OFT with concerns only do so after contracts have been signed and quite considerable sums of money have been paid out. Check who you are dealing with, especially if it is a call or contact out of the blue.'
Anyone who is contacted by off-Island agencies should consider whether you really need to advertise the business, what level of advertising you could obtain locally for the same cost and how do you know that the publication will be produced and distributed in the numbers and places promised.
You should ask to see an example of similar publications produced by the agency for distribution in Island and any letters of endorsement.
If you have any doubts, don't sign any documents or make any payments.
Read the small print and if you need any advice contact the OFT.
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