MCO Capital loan

geomacl

Robie_Nudd wrote: »

Possibly Gomer didn't read my initial post. The sourcing of the information is being investigated; it certainly didn't come from scouring electoral registers/telephone directories. I assure him that 9,000 bank separate bank accounts is perfectly credible in this instance - the use of on-line accounts being a major factor - there are clearly not 9,000 separate fraudsters! Perhaps one needs to ask what was seen in verification to open the core accounts?

Interesting point about on-line bank accounts, Robie. This brings to mind the fact that I found malware (trojan) on my computer a couple of months before I received the dreaded Helploan letter - it is called "backdoor.Win32.hupigon" - type that into Google and see what it enables others to do to your computer - see specifically
http://www.microsoft.com/security/portal/Threat/Encyclopedia/Entry.aspx?Name=Backdoor%3AWin32%2FHupigon&ThreatID=-2147479551
I also have online banking. Could this be how my identity was obtained????

GomerPyle

I did get a glimpse of elaine's fine work but wasn't aware she'd researched it so thoroughly, so I won't claim any credit for merely duplicating what she's already done. However, my banking background and work in the field of internet fraud and scams may enable me to throw some new light on the issue.

The establishment of a mobile phone payment system has been the Holy Grail of many quite respectable organisations for a long while but it simply won't work. Consumers could care less and the security issues are immense, but there are attractions for much less scrupulous interests. However, it must be combined with something for which there's an existing demand - hence payday loans.

The operators of MCO Capital are unbelievably inept !) to create such a drama in the early set up phase and 2) to think that claiming they've been defrauded on a monumental scale aids their credibility as a financial institution. There's something of the schoolboy in the whole set up, but this is a clear warning of what's in store if anyone is foolish enough to allow these operators access to any part of the UK financial system.

I won't speculate on what's gone on, though I could, but clearly there is no intent on their part to observe existing laws, regulations or operate to any accepted standard. They have already owned up to making in excess of 9,000 credit searches on uninvolved UK citizens and such activity could undermine the reliability of credit agency records.

Quite simply, MCO Capital are a menace and operate like a puppy that hasn't been properly house-trained, going for the money ahead of any ethical or legal restrictions that limit what they are allowed to do.They aren't victims in this affair if they have operated outside the existing regulations in a reckless manner, and they are not ashamed to admit that that's what they've done.

I can't repeat a lot of the stuff I'm finding on Finnish language forums, but I'm still digging, and will come back with anything I find from quotable sources.

GomerPyle

If you had a key logger installed on your pc geomacl a hacker would have just cleared out your account. Invariably the log-in systems of banks defeat the actions of key loggers by making part of the process the use of drop down lists, and why would a hacker go through any sort of procedure via a third party when they have direct access to your money without limit ?

My speculation must remain inside my head for now and undoubtedly the OFT and police investigations will unearth what's been going on.

It does seem apparent that MCO Capital only have a sketchy knowledge of how the UK financial system works from what it's reported they've said, which is utterly bizarre for a company that is supposedly an authorised part of it.

Off Googling I go.

grahamqat

Did some research on the "Helploan" web-site and found the following courtesy valuethewebsite:

Estimated Worth:
$182 USD
Income Per Day:
$1 USD
Daily Pageviews:
15
Alexa Rank:
# 10,098,494
Compete Rank:
# N/A
IP Address:
82.203.211.110
Domain Name:
Menolaina.fi
Length:
9 characters
Age:
Unknown
Dmoz Listing:
Yes
Yahoo Listing:
No
Character Encoding:
Not Specified
Links In:
10
Links Out:
0


The IP address is a Finnish one, although to set up a .co.uk from outside UK is odd? Don't know how reliable the above web-site info is but the daily page views seems low.

Zinor

Rouncy wrote: »

Hello all,

I've just had a similar response from the same lady - with an added sentence stating that IJ were acting in good faith on the data supplied by MCO & had no reason to doubt the validity of the info supplied.

Hmmmmm..a little checking goes a long way !

Thanks to all for the continued good work in getting to the bottom of this scam.

I suspect that because Experian passed the checks from MCO as OK, IJ were happy that the creditors actually existed.

We should not forget the role Experian has played in all this. They certainly have questions to answer.

grahamqat

Don't know whether this has been posted but "luckyloan" is a similar scam run in Sweden using same IP:

Link here:

http://www.luckyloan.se

Also this site:

http://www.spoedgeld.com

grahamqat

Second site I think is Dutch but please correct if wrong. Looks increasingly like a Pan European scam!

GomerPyle

Nice work GeorgeEliot and it largely confirms what I've been discovering. It appears that new legislation comes in to force in Finland in December that will severely restrict the activities of these outfits which are under police investigation and Tom Hill's reputation isn't a secret. In fact, though my translator can clearly handle most Anglo Saxon swear words, there must a few that the Vikings never passed on to us. :rotfl:

Even now the website remains a wondrous resource for those seeking comic amusement -

FAQ's

Is it safe to use our service?

Remarkaby they have demonstrated that it's not safe if you don't use their services.

5.4 If you have borrowed from us and do not make payments that you owe us, we will trace your whereabouts and recover debts.

With 9,000 faulty demands already issued by their own admission, this remains to be seen.

http://www.192business.com/page/14109/5000-victims-of-loan-firm-fraud

Help Loans and MCO Capital have apologised to victims and strengthened their customer onboarding process to prevent future occurences:

Is 'onboarding' related to 'surfboarding' or even 'waterboarding' perhaps ? I dealt with some very technical aspects of banking and the use of made up technical jargon is not a sign of competence.

Unsurprisingly 'onboarding' isn't mentioned at all in their statutory obligations but if they'd cared to read up on them they might have seen the open hole they were trundling towards.

---

I don't care a fig about my credit rating, and perhaps I'm unique in that respect, but I won't waste money on a stamp to correct the incompetence of others and I have no fear of meeting a fool in court.

It may be in the interests of people to correct information that credit agenies hold on them BUT there is no legal obligation whatsoever for them to do so, and what value is going to be placed on any adverse comment from MCO Capital now ?

The fact that the police are giving this advice may make people think they are legally obliged to do what they say - they aren't. The problem lies with MCO Capital and they ought to be obliged to clear up the mess and, if they did so, perhaps they would feel less inclined to do it again, should they continue in business.

grahamqat

It would appear there are 20 different sites running the scam from the same server. All with similar content, but different design:

http://www.fragapengar.com
http://www.kvicklan.com
http://www.manadslan.com
http://www.pyttekassa.com
http://www.spoedgeld.com
http://www.vardagslan.com
http://www.vliegendgeld.com
http://www.helgslant.com
http://www.lattkrediten.com
http://www.natpengar.com
http://www.pyttelan.com
http://www.spottstyver.com
http://www.vardagsslant.com
http://www.luckyloan.net
http://www.kabouterlening.com
http://www.lattlan.com
http://www.pengatrad.com
http://www.solskenslan.com
http://www.vardagskrediten.com
http://www.vippitori.com

A legit company would not need all these differing web-site styles - just translations. MCO innocent victims? - yeah right!

GomerPyle

This is fun - and quite hilarious too :rotfl:

Based on this article

http://investing.einnews.com/news/venture-capital/northern-europe

which says

One payday lender made borrowing so easy that his company was ... has one director, Tuomo Maki, 37, from Finland. Maki works for RTF Finance, an international ... providing "micro-sized instant loans". RTF's ultimate owners, venture capitalists Ichiban Group, chaired by Tero Turunen

Some more interesting connections have come to light. It just gets better and better.