Universal Syndications, Inc.

Customer Complaints Summary

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• Government Actions

  Attorney General Tom Corbett of Pennsylvania reaches agreement with World Reserve Monetary Exchange
  On July 28, 2009  an Assurance of Voluntary Compliance was filed in Commonwealth Court by Attorney General Tom Corbett of Pennsylvania.  A settlement was reached with Universal Syndications, Inc., doing business as World Reserve Monetray Exchange and World Reserve Monetary Exchange, Inc. (collectively WRME) over alleged unclear and deceptive advertisements.
  
  According to the agreement, the ads did not adequately disclose the amount and denomination of currency that consumers would receive; that currency offered as "free" could only be obtained with the purchase of other items; that the time-sensitive nature of the ad was not national in scope; or that WRME was not affiliated with a government or banking entity.
  
  
  

  Internal Revenue Service and Secret Service
  On February 1, 2012, World Reserve Monetary Exchange was the target of an investigation by members of the Internal Revenue Service criminal investigations unit.  This case is pending.  We will update our report accordingly as information becomes available. 

  What government actions does BBB report on?

• Advertising Review

  The company has been the subject of many ad challenges in the past which they have responded to, modified, or discontinued. However newer ads forwarded to the BBB have indicated a pattern in which the company advertises. These patterns give the BBB reason for concern, and we feel that although the company has shown cooperation with the BBB, the underlining causes of concern have not yet been resolved in their advertising. Therefore the BBB finds these matters unresolved.
  
  
  Sense of Urgency-In many of the company's advertisements, there seems to frequently be some type of scarcity, or limited supply that seemingly would limit the availability of the offer. The BBB has found on many occasions that this is not necessarily accurate.  According to the company, these limitations are based on the company's own limitation based on their own limited stock, which is also based on their limited daily capacity and space for their own inventory. The company also notes that deadlines are strictly enforced to meet federal and state guidelines, however we still find the urgency to be misleading.
  
  Product worth- In the BBB's evaluation we frequently found the company will highlight the possible worth of their products, even implying it as an investment in some cases. The BBB finds that some of the terms, comparisons and endorsements stated can mislead some consumers into thinking that these coins are not only a good investment but something of worth they can pass down, which in many cases is untrue. The company has provided substantiation which they feel supports their statement, however the BBB feels the company's position of worth is overstated.
  
  Hidden Cost-In the company advertisement, the only way consumers seem to be able to either receive the product for free or purchase it at a small fee, seems to always be contingent upon buying/purchasing the company additional products. Although the company does state this in their ad, some instances have shown it to be quite difficult to conclude what it is that your exactly getting.
  Implied misinterpretation as to what is being offered, appears to be purposeful in order to mislead consumers.
  
  Rarity-In many of the company's ads there seems to be implication that the product is either exclusive or rare in some instances, which is not the case. In some cases the company compares it to a product of rare equity that may suggest unrealistic value. The BBB finds this to be misleading.
  
  
  

  
  Universal Syndications has been the subject of advertising challenges on their various products initiated by consumers as well as the BBB.  Although ads themselves may differ in subject, the nature of the challenges still exhibit the same primary advertising concerns listed below.
  
  1. Use of the word free-BBB Code of Advertising states the word free may be used in advertising whenever the advertiser is offering an unconditional gift. If receipt of the "free" merchandise or service is conditioned on a purchase: the advertiser must disclose this condition clearly and conspicuously together with the free offer. The company maintains that all disclosures are listed in their ad in numerous locations to inform the consumer of the conditions needed to receive the free offer.
  
  2. Sense of Urgency-Consumer inquiries and BBB review have indicated that the company advertisements consist of deadlines and limitations. Some consumers question the legitimacy of the deadlines, however the company position is that these restrictions are implemented to meet anticipated demand. The company also notes that deadlines are strictly enforced to meet federal and state guidelines. 
  
  3. Advertorials-advertorial is an ad in a form of an editorial. Through consumer inquiries and BBB review we found a majority of the company's campaigns are run in this manner. Consumers indicate confusion at first glance that sometimes create a misconception as to the company's affiliations.  The company position is that it is stated clearly in their advertisement that their company has no government affiliation nor is it a government entity.  
  
  

  What is BBB Advertising Review?