BUSINESS
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Telex fraud
DO NOT be tricked into paying for entries in bogus telex directories.
The Fraud Squad estimates that 2-4,000 of Britain's 104,000 telex subscribers have sent money to West German and Swiss fraudsters.
The confidence trick starts with an invitation through the post for :1 free entry in an international telex directory. Some time later, an invoice is sent, claiming that the entry was ordered. If the invoices — for up to C1,0(X) — are not paid the victims receive letters threatening legal action.
Then a "soft option" is offered; out-of-court settlement for about one third of the original demand. At this point, some companies Pay up.
It is the Confederation of British Industry that has issued this warning. The CBI's legal division advises: "Under no circumstances should any money be sent, despite the threatening nature of some solicitor's letters."
Under the Unsolicited Goods and Services Act any order forms disguised as free offers are void.
In particular, the CBI warns of a Liechtensteinbased company calling itself the Telex Public Corp. which has been sending out bills resembling those of British Telecom. Hundreds of British firms have paid these, even though British Telecom does not charge a basic telex subscribers' entry.
Ikarus visit
HUNGARIAN bus builder Ikarus together with the Hungarian trading organisation Mogurt are sending a "buying delegation" to Britain this week.
It will be interested in vehicle components, and UK suppliers in this field can make contact with the delegation through the commercial section of the Hungarian Embassy in London. Tel: 01-235 7680.
The delegation is due to arrive on Monday March 24.