A complaint lodged by Lloyds Banking Group, challenged whether the statement on Claimback.com’s website was misleading and could be substantiated with evidence.

On its website the firm describes itself as an independent claims management company which “specialises in helping to claim money for clients who have been mis-sold a mortgage or mis-sold PPI.”

The advertising regulator raised concerns when Claimback.com’s failed to respond to its enquiries and said that its claim could encourage consumers to pursue an interest in the company. It concluded that the ad has breached rules of misleading advertising and substantiation.

The ASA said: “The ad must not appear again in its current form. We told Claimback.com not to state that they had claimed a certain amount for their clients if they could not provide evidence to substantiate it.”

Despite receiving a ban on the ad from the ASA, the statement still appears on the company’s website.

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