LoanAxess Limited based at Unit 5, 124 Baker Street, London, is thought to be carrying out consumer credit activities in the UK without the permission or authorisation from the FCA.
The regulator has warned that nearly all firms and individuals carrying our consumer credit activities must be authorised by the FCA and some who do not have this knowingly run scams.
“We strongly advise you to only deal with consumer credit firms that are authorised by us, and check the Financial Services Register and Consumer Credit Interim Permission register to ensure they are,” said the FCA.
“These registers have information on firms and individuals that are, or have been, regulated by us.”
The watchdog added: “Any money handed to an unauthorised firm will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme if things go wrong.”
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