Virgin Media has been fined a record £28 million ($37.5 million) for making it unreasonably difficult for customers to close accounts or switch to a better telecoms deal. The U.K. Office of Communications (Ofcom) found that the company’s commission policy “effectively encouraged and financially rewarded” call center agents for creating barriers that prevented customers from leaving, undermining competition.

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...