Check your account statement

In the daily hustle and bustle of personal financial management, a new problem arises, affecting many bank account holders.

A growing number of consumers report that they have been victims of unexplained direct debits made without their consent by a company now known for its questionable practices. This incident highlights the risks associated with subscriptions and service contracts, which are sometimes forgotten or ignored, but also the risks of more malicious operations.

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Trouble with unauthorized direct debits

The finding is alarming: Individuals find unknown transactions on their bank statements, which do not correspond to any service they are currently using. This phenomenon, often the result of outdated or unknown subscriptions, sometimes reveals more worrisome practices. Consumers find themselves billed for services they believe they canceled long ago, a sign of faulty or worse, malicious termination management on the part of some companies.

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SFAM at the heart of the scandal

At the center of this controversy, the Société Française d’Assurance Multimédia (SFAM) occupies a prominent position. This subsidiary of the Indexia group, specializing in insurance and warranty extension for mobile and multimedia devices, has faced serious criticism. SFAM has already been singled out by regulatory authorities for its business practices, accused of abusive deductions from former customers’ accounts. Despite a ban on selling new contracts from April 2023, the company appears to have continued to make undue deductions.

Vigilance is required

An article by 60 Million De Consumatores dated March 26, 2024 highlights the need for consumers to be vigilant against such practices. It is essential to regularly monitor your bank statements and take immediate action if suspicious transactions are found. Challenging the bank, voiding the SEPA Direct Debit mandate and reporting offending companies are crucial steps to protect your finances.

A case that challenges

The episode raises many questions about the regulation of business practices in the insurance and service sector. How can companies continue to deduct amounts from former customers’ accounts despite termination of contracts? What are the loopholes that allow such practices and how can consumers effectively protect themselves?

Call for caution

Consumers purchasing electronic devices from SFAM partners between 2017 and 2022 are advised to exercise particular caution. Those who believe they have canceled any insurance or extended warranty related to these purchases should also be alert and prepared to intervene in the event of unexpected charges.

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This article explores recent reports of unauthorized bank withdrawals by Société Française d’Assurance Multimedia (SFAM), highlighting a recurring problem in managing subscriptions and services. Through this situation, it seems necessary for customers to be vigilant, closely monitor their banking transactions and take a proactive approach to combat any unfair direct debits.