Wonga fake law firm tactics may be more widespread, says FCA
Payday lender Wonga must pay £2.6m in compensation after sending letters from non-existent law firms to customers in arrears.
The letters threatened legal action, but the law firms were false. In some cases Wonga added fees for these letters to customers' accounts.
Wonga has apologised and said the tactic ended nearly four years ago.
Martin Wheatley of the FCA told the BBC's Kamal Ahmed the payday loan sector had a 'lot of problems'.
25 Jun 2014
- From the section Business