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FCA flags 85% lending scam hike

FCA warnings about sub-prime lending and debt management scams are up 85% to 24 during the three months of lockdown compared to just 13 in the same period last year, according to BDO.

FCA flags 85% lending scam hike
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The increased numbers of fraudulent or unregulated lenders being identified by the FCA suggests they are stepping up their targeting of borrowers who are struggling with unemployment or with incomes cut by furloughing.

Read more at Accountancy Daily

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