Pay Day Firm Shut Down

[EXC]

Payday lender shut down by OFT over identity fraud

MCO Capital banned from lending, after fraudsters used personal details of more than 7,000 individuals to take out loans.....

http://www.guardian.co.uk/money/2013...identity-fraud

[CleverClogs]

Re: Pay Day Firm Shut Down

Gosh, that was fast.

The Office of Faffing and Twaddling has only known about this for nearly three years! link

[gravytrain]

Re: Pay Day Firm Shut Down

http://www.thisismoney.co.uk/money/c...ito=newsletter

[TUTTSI]

Re: Pay Day Firm Shut Down

I posted this news up on 8/4/2013 http://www.legalbeagles.info/forums/...ter-oft-action

[enaid]

Re: Pay Day Firm Shut Down

I have just passed a money lending shop in a small town up the road from us, there were at least 6 people sitting waiting to be seen. I only glanced because it is a new shop and along with the ones that buy your clothes for a fiver a bag nothing else is developing.

[Nibbler]

Re: Pay Day Firm Shut Down

http://www.thisismoney.co.uk/money/c...ito=newsletter

Article on last night's BBC Watchdog report on Wonga.

http://www.bbc.co.uk/programmes/b006...aints-continue

Looks like Wonga were brushing things under the carpet and failing to refer any fraud or ID theft via their loans to the authorities.

Watchdog kindly contacted the Police/actionfraud for them , who now want Wonga "victims" to report cases to actionfraud so the can look into them.

[gravytrain]

Re: Pay Day Firm Shut Down

If anyone is wondering why effective regulation is so long in coming

May 13, 2012 ... Another person benefiting from Wonga.com's success is venture capitalist Adrian
Beecroft, a major donor to the Tory party, having handed over

http://www.mirror.co.uk/night-copy/w...million-830110

[CleverClogs]

Re: Pay Day Firm Shut Down

I have just passed a money lending shop in a small town up the road from us, there were at least 6 people sitting waiting to be seen. I only glanced because it is a new shop and along with the ones that buy your clothes for a fiver a bag nothing else is developing.

So the economy really is starting to pick up again?