19 Loan websites shut down



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The OFT (Office of Fair Trading) has announced that it has shut down 19 bonus loan websites, after the sites were revealed to not be offering the loans, but selling on the details obtained from people on the site.

The sites, none of which had the necessary license to operate in the credit broker market, were all run from abroad, but have been shut down after a collaboration with the hosts hosting the sites.

David Fisher from the OFT said, “Websites like the ones we have shut down target vulnerable people and those who may not have easy access to credit.”

“We advise consumers to think carefully before entering personal data into any lead generation website, in case this information is passed on without their knowledge.”

The websites are known as lead generation sites, and the OFT revealed they have now been added to their ‘banned’ register on their website.

The sites targeted those on state benefits, with disabilities or those in the armed forces, who traditionally struggle to get credit elsewhere.

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