Gold Traders Operating Without a Licence May Try to Defraud Customers
Local residents are warned to be on their guard after it’s been flagged up that a number of rogue Gold traders could be operating on the Island.
There have been more cases reported of traders from off Island trying to attract business by flyering and advertising over here, unless they have a licence they’re called ‘non-resident chapmen’.
If the traders are operating without a licence issued by the Office of Fair Trading they could be imprisoned for up to six months, or face a £5,000 fine.
Door to door traders should also have a licence regardless of if they’re from the Island or not.
The concern is that those operating illegally will be likely to try and defraud their customers.
If anyone wants to sell their gold it’s advised they first go and get a quote from a local reputed jeweller.