Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

BT Fined £2.8 Million by Ofcom for Contract Failings

by May 23, 2024
May 23, 2024
BT Fined £2.8 Million by Ofcom for Contract Failings

BT has been fined £2.8 million by Ofcom for not providing clear contract information to a million customers of its EE and Plusnet services.

The telecoms regulator identified that these customers were not given essential details about their deals before signing up.

Ofcom’s investigation revealed that some of BT’s sales channels were still not compliant with the regulations, failing to provide the required information at the appropriate time. Since June 2022, phone and broadband companies have been mandated to offer a concise summary of key contract terms, including price, speed, early exit fees, and contract length.

Despite these requirements, EE and Plusnet made over 1.3 million sales without supplying these essential documents. BT acknowledged its failure, resulting in a 30% reduction of the fine.

In response to the breach, BT reached out to customers a year later, allowing them to request the necessary information or cancel their contracts without penalty. However, some customers had already left and might have incurred early exit fees.

Ian Strawhorne, Ofcom’s enforcement director, stated, “For people to take advantage of the competitive telecoms market here in the UK, they must be able to shop around with confidence. When we strengthened our rules to make it easier for consumers to compare deals, we gave providers a strict timeline by which to implement them. It’s unacceptable that BT couldn’t get its act together in time and the company must now pay a penalty for its failings.”

He also issued a warning to other companies, emphasizing that Ofcom will take action when rules protecting customers are violated.

BT must pay the fine within four weeks, with the funds going to the Treasury. Additionally, BT is required to amend its sales processes, identify customers who faced early exit charges, and contact those who did not receive all relevant information.

A BT spokeswoman apologized for the inconvenience and stated, “We apologise for any inconvenience caused and have taken steps to proactively contact affected customers and arrange for them to receive the information and be refunded where applicable. We take compliance seriously at BT and we’re working closely with Ofcom to implement the remedial actions as a result of their findings.”

Following the announcement, BT shares rose by 1¼p, or 0.9 per cent, closing at 129¼p.

Read more:
BT Fined £2.8 Million by Ofcom for Contract Failings

0
FacebookTwitterGoogle +Pinterest
previous post
Rising Benefits and Tax Cuts Push UK Borrowing to Three-Year High
next post
NatWest ‘Tell Sid’ Sale Likely to be Postponed Due to Upcoming Election

You may also like

Number of non-dom taxpayers rises 7 per cent,...

July 9, 2024

Three Examples of Successful Joint Ventures Around the...

April 24, 2024

Boohoo to rebrand as Debenhams group in new...

March 11, 2025

Next Expresses Interest in Acquiring Assets of The...

February 27, 2024

Small businesses set to be swamped with £23BN...

December 19, 2022

Data-Driven Resilience Report Highlights Rising Costs as Biggest...

November 2, 2023

Maersk pauses shipping operations in Red Sea indefinitely...

January 3, 2024

Microsoft Faces Major Antitrust Fine Over Teams Integration...

June 26, 2024

Trade figures reveal UK’s challenge to boost economic...

November 28, 2024

Starmer targets digital trade deal with Trump as...

February 7, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved