Office of Fair Trading Shuts Down Payday Loan Company

GimmeDosh aim to make getting a pay day loan with them as quick and easy as possible.

Peterborough, UT (prHWY.com) August 19, 2012 - A payday loan company has been shut down for allowing itself to be duped by fraudsters who impersonated more than 7,000 people, taking more than £1.4million.

The payday loan company broke rules on money laundering by failing to check the identities of the borrowers and going on to chase the victims of the identity theft for the outstanding payment, to repay the loan.

The Office of Fair Trading feel that the payday loan company were worthy of a £544,000 fine as their failure to put adequate procedures in place left them open to fraud and that the aggressive letters sent to the thousands of victims caused unnecessary distress and inconvenience.

It is very important that payday loan companies get customers details before accepting loan requests, but this shouldn't mean that loan companies ask for your finance history and any money details for the last 7yrs.

As a customer it is important to shop around, GimmeDosh offer payday loans at great rates, they require the applicants details to ensure that the request is not fraud, but at the same time they do not ask for lots more documents that are not always required.

GimmeDosh aim to make getting a pay day loan with them as quick and easy as possible.

For More Information Visit: http://www.gimmedosh.com

Media Contact Details

Name: Hazel Cottrell
Company Name: i3MEDIA
Town: Peterborough
Country: Cambridgeshire
Telephone Number: 08454590013
Email: hazel@i3media.net
Language: English

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Tag Words: payday loan company

Categories: Business

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