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Estate agent employees offered up to £100,000 to whistleblow on cartels

View profile for Spencer Davis
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Estate agents are among those being offered up to £100,000 to blow the whistle on illegal cartels.

The Competition and Markets Authority announced early this morning that it would be launching its first advertising campaign to crack down on cartels.

The press release specifically mentions the latest case involving agents, where firms in Burnham-on-Sea, Somerset, agreed to fix their fees at 1.5%. There are also mentions of other recent cartel cases, and claims that further cases of suspected cartel are under investigation.

Andrea Coscelli, acting chief executive of the CMA, said: “Cartels are a form of stealing that cheat ordinary people as well as other businesses by undermining competition, and we are committed to tackling them wherever we find them.

“Cartels are carried out in secret to make you think you are getting a fair deal, even when you are being conspired against to keep prices high.

“Cartels are both harmful and illegal, and the consequences of breaking the law are extremely serious. That is why we are launching this campaign – to help people understand what cartel activity looks like and how to report it so we can take action."