To get the best lending results, compare all P2P lending and IFISA providers that have gone through 4thWay’s rigorous assessments.
Peer-to-Peer Lending Scams
The Financial Conduct Authority – the UK body that regulates financial companies – has issued a warning that scammers are now operating in peer-to-peer.
It writes, in its usually over-cautious way, that it “believes” that a company calling itself “Zopa Loans Reviews” is pretending to be the real P2P lending company “Zopa” and attempting to take money off individuals like you and me.
Watch out for peer-to-peer lending scams
You should always be careful when getting emails to ensure that they're really from who they say they are, or when clicking through links on discussion boards or in comments underneath articles on the internet.
If in any doubt, type the company you want into google. You can expect the real P2P lending company to be one of the highest placed links. Or you could go through links on 4thWay®*
The regulator and police generally do little directly to prevent scams other than trying to educate people, and usually they have little power to recover your money after the event. There is no government-funded compensation scheme for scam victims.
You could read a Citizens Advice article Top Tips To Avoid Online Scams.
*Commission: our service is free to you. All P2P lending companies will be included in our fair and accurate comparison tables once we have finished adding them all. We receive compensation from some of the P2P lending companies for providing you with their 4thWay® Risk Ratings and 4thWay® Insight Reports for free, which pay us when you click through from us and open accounts with them. This doesn't affect our editorial independence. Learn How we earn money fairly with your help.
