Latest adjudication: Pro Money Holdings Ltd
21 March 2018
The PSA received 47 complaints from consumers about a competition service charged at £4.50 per week operating on shared shortcode 82225, under the brand name Comphouse Competition (“the Service”).
The Level 2 provider for the Service was Pro Money Holdings Ltd (“the Level 2 provider”).
This matter was an adjudication by consent, the Level 2 provider accepting that the following breaches of the PSA Code of Practice had occurred:
· Rule 2.3.3 (charging consumers without evidence of consent)
· Rule 2.4.2 (marketing to consumers without evidence of consent)
· Paragraph 4.2.3 (failing to disclose information to PSA)
· Rules 2.6.1 and 2.6.4 (inadequate complaint handling and consumer refund process)
· Paragraph 4.2.2 (provision false and/or misleading information to PSA).
The Level 2 provider agreed to the imposition of the following sanctions:
· a formal reprimand
· a prohibition on Pro Money Holdings Ltd from involvement in premium rate services for a period of 5 years
· that Pro Money Holdings Ltd pays refunds, for the full amount spent, to all consumers who have used the service, regardless of whether they have claimed a refund
· a fine of £50,000.00.
Consent order (pdf)