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Post by batchoy on Apr 9, 2014 18:54:35 GMT
Problems I see with the site. Only one P2P lender is linked I think the Thin Cats return is incorrect All comparisons are for 3 years, and show the site they link offering 10% on a min of £100, but when you click on the link and go past the front page they only offer 10% for 5 years, and then only with 10k min investment. The site they link to claims that this investment is 100% risk free. Additionally when you click on the link the £100 minimum becomes a £500 minimum on the Lend page, and £5000 on the More About What We do > Why We're Different page. Additionally the Ts&Cs appear to have been ripped from the Rebuilding Society website and poorly cropped and edited as a result there are cross references that are broken and some of the terms such as a selling fee contradict statements made on the rest of the site
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james
Posts: 2,205
Likes: 955
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Post by james on Apr 10, 2014 13:18:48 GMT
a DNS search is more revealing as both the comparision/ad site and the P2P Platform URLs resolve to the same IP address. The site they link to claims that this investment is 100% risk free. Either of those things should prompt a report via the FCA's misleading financial promotions page. Since they are already on this case there's nothing to do in this specific case. Promotions claiming no risk are a particularly hot issue given that P2x lacks FSCS protection, so all such claims about P2x are inherently false because there isn't the key protection against bankruptcy or fraud. In a past case for a non-P2x place that made a safer than FSCS claim the FSA ordered that all investor money that came in as a result of the promotion had to be returned. For such things I'd just report and let the FCA deal with it. Not worth getting into an argument with a place that is either grossly misunderstanding the conduct expected of them or just ignoring it.
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Post by easteregg on Apr 29, 2014 12:23:04 GMT
And the websites are now gone...
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Post by batchoy on Apr 29, 2014 15:36:47 GMT
Not exactly gone, the URLs resolve to 'Account Suspended' pages
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Post by easteregg on Apr 29, 2014 20:31:06 GMT
Not exactly gone, the URLs resolve to 'Account Suspended' pages I've contacted the FCA to try to get some more information, but I suspect that may not be forthcoming. It could be the hosting company suspended the account, or the company themselves requested the sites be removed.
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