Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
fca office
April 11 2018

FCA issues warning about Funding Circle clone

Marc Shoffman Industry News, News FCA, Financial Conduct Authority, Funding Circle, p2p

THE CITY watchdog has issued a warning to consumers about a clone of peer-to-peer lender Funding Circle.

The clone, Funding Circle Loans, had set up a website purporting to be the P2P platform.

Its website, http://fundingcircle.bravesites.com, has since been suspended.

Read more: Funding Circle poised for £1bn float

“Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us,” the Financial Conduct Authority (FCA) said in a statement on its website on Tuesday.

“This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

“This is what we call a ‘clone firm’; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the ‘firm reference number’ we have given the authorised firm or other details.”

A Funding Circle spokesperson said no customers are believed to have been affected.

“We were aware of this and the FCA posted the warning with our agreement,” the spokesperson said.

“The website in the statement has already been taken down and no customers have reported as being affected.

“Funding Circle has dedicated information security and fraud teams, who are constantly working to ensure our business and customers are protected.”

Read More: Funding Circle SME fund size to double following C share merger

Read more: An IPO would add kudos to P2P but shouldn’t be a priority

Alternative lending execs predict City funding boost Ex-P2PFA chair Christine Farnish to lead new Zopa board

Related Posts

Bag with money and word Pension and up arrow with coins. Increase pension payments. Saving money, retirement. Future investment. Accumulation of pension contributions. Loan portfolio growth.

Industry News, News, Personal Finance News, Top 3

Which P2P platforms offer SIPPs?

Repossession word cloud

Industry News, News, Personal Finance News, Top 3

FCA confirms that consumer repossessions will resume as a last resort

Manchester Skyline UK

Industry News, News, Top 3

London, Manchester and Cambridge have the ‘perfect’ tech ecosystems

Popular posts:

  • Everything we know about the CBILS successor scheme (so far)
  • Banks begin freezing accounts suspected of bounce…
  • LendInvest bond value lost £5.8m during pandemic
  • RateSetter to return to full interest for investors
  • Losses narrowed at Lending Works before Intriva takeover
  • NCA senior officer warns of “substantial” Covid loan…
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by