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Anti-competitive behaviour

The competition allows the markets to offer better services and products at a low price. It is one of the key elements that support a free-market economy where efficient operators or technologies can provide favourable solutions to the customers at an acceptable rate. 

However, certain harmful practices like fixing prices, or opposing unfair prices, or manipulated sales conditions or refusing to fulfil the customers' demands, and other methods adopted by one or more sellers or organisations in a dominant position create anti-competitive behaviour, which can lead to exploitation of market resources and unfair loss to buyers. 

Some of the unfair methods adopted by organisations to restrict competition are 

  • Fixing the prices or limiting production to hold the rates. 

  • Dividing markets to restrict products from entering certain areas.

  • Not completing the agreement (bid-rigging).

How To Spot It?

  • Getting quotes from different firms offering the same discounts or price hikes by the same amount simultaneously. 

  • Refusing to supply as promised.

  • Using misleading/unclear terms and conditions.

  • In the UK, fixing prices of goods/services, limiting production or discrimination between customers is prohibited in all kinds of agreements – formal, informal, verbal or written. Such illegal actions that negatively impact the buyers can be reported to the regulatory agencies.

Date Published: Feb 19, 2022

Types of fraud

A-Z of fraud

To help understand which fraud you've been affected by, we've categorised them into an alphabetical list.

What is fraud and cyber crime?

Cybercrimes can be of two types. First, it can be cyber dependent, where the fraudsters use online devices to convince the victim to accept their offers.

Advance fee fraud

If you are trying to get a loan for a house or a car, they ask to meet the provider to get the financing arrangement and pay the finder's fee in advance.

Corporate fraud

Corporate frauds can be complicated, committed either by the firm or an individual. Nevertheless, it mostly involves cheating where the employee or the firm.

Individual fraud

There are many types of individual frauds related to advance fees, investments, insurance brokers, bogus tradespeople, Ponzi schemes, pension liberation.

Online fraud

Hence the number of cases of online fraud is increasing each year, and most such cases include – account takeover, direct frauds, or scams related domain names.

Identity fraud and identity theft

The criminal uses the stolen identity of another person living or deceased to conduct unlawful activities like obtaining goods or services in another's name.

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