CCR Magazine

You are here  :Home arrow News arrow FCA’s Christmas warning shows need to police online loan sharks
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


FCA’s Christmas warning shows need to police online loan sharks PDF Print E-mail
Thursday, 17 December 2015

With the Financial Conduct Authority echoing the CFA’s warning about a number of firms that are carrying out consumer credit activities, specifically offering 'Christmas Loans' in the UK, without permission or authorisation, Russell Hamblin-Boone, Chief Executive of the Consumer Finance Association which represents some of the best known short-term lenders in the UK, said: “The FCA’s echo of our warning about a wave of web bandits targeting UK borrowers this Christmas comes at a time when the very existence of the only team that protects UK borrowers from illegal lending is under threat.

“The Illegal Money Lending Team (IMLT) is losing funding at a time when its resources should be increased to allow it to tackle online web bandits as well as those who blight communities across the UK. The CFA is calling on the Treasury to transfer the IMLT into the FCA so that the entire consumer credit industry can continue to fund its important work through the levy.”

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197