Positive Lending cloned by fraudsters

Positive Lending says fraudsters are using their logo, staff names and new Ringwood head office address to promote loan offers in Euros to consumers overseas. The fraudsters purport to have offices in London, Liverpool and Italy.

So far, Positive have been made aware of four instances of consumers being targeted by the fraudsters masquerading as them. From feedback received from these consumers, it appears other companies and websites are also being cloned in this manner.

At the point of writing, it appears this particular scam is only targeting consumers in Europe, offering fake loan agreements and gathering fees in Euros. There have been no reports of UK consumers being targeted and Positive says its partners are not at risk.

Positive reported the cloning to the FCA and National Crime Agency and, at the advice of the FCA, included warning notices on the contact pages of their website. The FCA will be posting a cloning warning on their register in due course.

Alec Wimbleton, Compliance Director at Positive Lending, said: “The cloning of companies is proving to be increasingly problematic, with growing numbers of genuinely authorised firms being targeted. We were shocked to hear that our company had been cloned. We are taking advice from the FCA and will continue to report any further instances of fraudulent behaviour. I would ask that, as an industry, if anyone receives emails or calls from consumers abroad - investigate immediately, do not assume they are spam – it could be a consumer seeking help.”