To A/V software fanatics - Subscription Trap scams

Hi there.

This is one of the NASTIEST scams people are likely to fall into - and no amount of A/V software can save you from it.

It's known as a Subscription Trap - and uses what is known as a "Continuous Payment Authority" --these are even worse than direct debits --at least with those the Bank has to warn you of any change - but a Continuous Payment Authority allows a company to take AS MUCH MONEY as it likes from your Ban account - WHENEVER it likes --these really should be outlawed.

What happens is people sign up for a "Free offer" but don't read the small print - usually deliberately hidden pages away from the original offer --this often means you sign up to expensive "membership" schemes with these Continuous payment authority" stuff. So you could find out that your "Free Offer" comes with a very expensive "membership" scheme - and cancelling these Continuous Payment Authority stuff is qute a time consuming and complex affair.

So next time you go into your Bank ask them if they allow Continuous Payment authority schemes and if they say yes CHANGE YOUR BANK.

Here's a good explanation of the scam --the horrendous part about this is it's quite legal - and to all A/V software fanatics - these sorts of practices are far more problematical these days than the odd virus.

The Subscription Trap | PCWorld

More info on Continuous Payment Authority --this is the UK version bit it's the same in the USA.

What is a ‘continuous payment authority’? - Banking - Guides - Moneyfacts


Cheers
jimbo

jimbo45 said:

Hi there.

This is one of the NASTIEST scams people are likely to fall into - and no amount of A/V software can save you from it.

It's known as a Subscription Trap - and uses what is known as a "Continuous Payment Authority" --these are even worse than direct debits --at least with those the Bank has to warn you of any change - but a Continuous Payment Authority allows a company to take AS MUCH MONEY as it likes from your Ban account - WHENEVER it likes --these really should be outlawed.

What happens is people sign up for a "Free offer" but don't read the small print - usually deliberately hidden pages away from the original offer --this often means you sign up to expensive "membership" schemes with these Continuous payment authority" stuff. So you could find out that your "Free Offer" comes with a very expensive "membership" scheme - and cancelling these Continuous Payment Authority stuff is qute a time consuming and complex affair.

So next time you go into your Bank ask them if they allow Continuous Payment authority schemes and if they say yes CHANGE YOUR BANK.

Here's a good explanation of the scam --the horrendous part about this is it's quite legal - and to all A/V software fanatics - these sorts of practices are far more problematical these days than the odd virus.

The Subscription Trap | PCWorld

More info on Continuous Payment Authority --this is the UK version bit it's the same in the USA.

What is a ‘continuous payment authority’? - Banking - Guides - Moneyfacts


Cheers
jimbo

Thanks for the info Jim. . .:). . .nice to know stuff.