OFT Closes Fraudulent Loan Websites

The Office of Fair Trade (OFT) has closed down 19 websites that were operating as credit brokers without a license. The OFT also highlighted that these websites where designed to collect data for the sole purpose of resale to other companies.

Consumers are being warned to remain cautious about entering their personal information on the internet, particularly when loan deals appear to be too good to be true.

The OFT director of Consumer Credit, David Fisher, said “Websites like the ones we have shut down target vulnerable people and those who may not have easy access to credit.  We advise consumers to think carefully before entering personal data into any lead generation website, in case this information is passed on without their knowledge.”

To read the full article click here.