Russell Hamblin-Boone of the Consumer Finance Association said:
“On Safer Internet Day UK borrowers should not only consider how to protect themselves online, but also how to avoid bogus loan websites. Criminals have been setting up websites, which might appear legitimate, but provide no protection if things go wrong and do not comply with the Financial Conduct Authority. These are lending money illegally, but they could also be collecting your personal information to be sold to fraudsters. If you are looking for a short-term loan ensure the company has authorisation from the Financial Conduct Authority and is a member of the Consumer Finance Association. Our members are listed on our website.
“The Consumer Finance Association works closely with the Illegal Money Lending Team to catch online and off-line loan sharks to ensure they can face justice. If you are concerned about a site report it to the Illegal Money Lending Team (0300 555 2222) or Action Fraud.”