The clone firm, the term used by the Financial Conduct Authority (FCA) for companies which illegally use authorisations belonging to other companies, is using the name Match Your Loans.
The firm is offering borrowers secured and unsecured loan options and describes its service as a ‘convenient and extremely capable service to the people, who are facing financial difficulties’.
The regulator named the victim of the clone scam as Blue Triangle Technology which trades as Loanster Money, Find a Loan and Loan Finder. This Warwickshire-based firm is authorised by the FCA and uses the website www.loanstermoney.co.uk.
In September last year, the FCA raised concerns about the rise in the number of regulated firms being targeted by cloning scams and warned companies to remain vigilant and to get in contact if they thought they had been affected.
Clients ‘will not be covered by the FSCS if they suffer losses from dealing with these scams,’ warned the regulator.
