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FCA issues warning over payday loan firm


FCA

The FCA has issued a warning over a payday loan firm it believes is providing financial services or products in the UK without its authorisation.

Britain Loans – also known as The Britain Loan and Britt Loans – of 27-28 Eastcastle Street, Fitzrovia, London W1W 8DH, uses the email address customerserviceloandocument@gmail.com.

The firm claims on its website – britainloans.co.uk – that it does not provide short-term loans, but matches people to a reliable lender. 

However, the FCA has warned the public to be especially wary of dealing with this unauthorised firm.

“This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation,” stated the FCA.

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.

“However, some firms act without our authorisation and some knowingly run investment scams.

“We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are.

“You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme if things go wrong."





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