Payday Fraud in England has Company Fighting Back

Posted On: March 9, 2010 at 9:56 a.m.

Filed Under: payday loan text messages

I thought this was an interesting article. In England, there is apparently an issue with companies mimicking a payday loan company by using their logo. Those involved in the scam are mimicking the company (called Lending Stream Ltd.) and sending false information:

“Lending Stream Ltd, a leading payday loans company in the UK, wishes to draw the attention of its customers and members of the general public to the prevalence of fraudulent activity being perpetuated by fraudsters aiming to defame the company and mislead its customers. It has been noticed that the name of the company, its logo as well as its address are being misused in attempts to defraud the public through false correspondence and other scams. This type of fraud may be via email, letters, text messages, facsimile or by using a website claiming to be that of Lending Stream Limited. [[ads]] The customers of Lending Stream are being supplied with false, unscrupulous and misleading information by the scammers. The information includes business deals or non-existent products, as well as false payday loan products and product lines through anonymous letters. In order to provide legitimacy to their mails, the scammers send their letters on imitation Lending Stream Limited letterheads or through anonymous letters” (http://www.marketwire.com/press-release/Payday-Loans-Lender-Urges-Customers-Watch-Out-For-Mimicking-Fraudsters-Scammers-1127735.htm). It is becoming more and more clear that we need to be careful about what we deem as credible, particularly on the internet. Let this stand as a reminder that, even though there are many, many reputable companies, we still have to do our homework to make sure we don’t fall into a trap.

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