MCO Capital loan

geomacl

piglets3 wrote: »

Thanks All,
Looks to me like IJ are just passing it all back to MCO. Next advice will be we will have to contact MCO again & reiterate we did not take out any loan. we will be going round in circles. IJ informed me bank name & last 3 digits of account loan was paid into- Its not RBS - Eaglemar ( well at least thats what they said). Also I have same problem with MEM CF, fraudulent loan taken out in my name ( double unlucky I guess). Asked them for bank details & they told me it is against Data Protection Act to give me that information. Any ideas?

Sorry to hear that piglets3 - one damnable company is bad enough but TWO - jeese!! :mad: I fail to see how it can possibly be against the DP Act to help you identify where the funds went that you are alleged to have borrowed? This would also help them by your confirming that it's not your bank account. Are MEM using a debt collecting company?

geomacl

Experian_company_representative wrote: »

All three credit reference agencies provide free assistance for victims of ID fraud and we work together to help people set the record straight. So far more than 1000 victims of the MCO fraud have sought and received help from our Victims of Fraud team. Anyone who's been affected by this and has yet to contact us should get in touch at [EMAIL="identityfraud@uk.experian.com"]identityfraud@uk.experian.com[/EMAIL].
As far as Money Box is concerned, let me just clarify that I didn't agree to be interviewed twice at all. What they didn't mention is that I been helping them all week, that I provided full written responses to all their questions and actually offered to find them some case studies. I couldn’t personally get to a studio for this because of a family incident and existing commitments, which they were fully aware of. Also, we didn't tell MCO not to do an interview and we clarified this as soon as we became aware of the misunderstanding.
James Jones

Welcome James and thanks for making the effort to explain a few issues on behalf of Experian. I have to admit that it was somewhat perplexing to have heard Paul Lewis (Moneybox) saying that Experian had convinced MCO rep not to participate because of a concern that his accent may not be understood. The fact that MCO and Exeprian had communicated about the Moneybox programme at all raised issues and concerns.
My personal experience with Experian is positive in that I obtained my credit record free (during the 30 day trial) and your agents eventually (with MCO permission I assume) managed to remove the two MCO checks (1 x generic and 1 x loan specific) from my report.
Forum has had around 800 new hits so far today.

grahamqat

Hi Geomacl, posted theory on MCO income streams at 685. Runs as follows:

Having looked at many people's inputs - thanks - here is my latest theory from the ground up.

Register MCO at Companies House so it looks legit.
Register a "Non-trading" SIC code so minimal accounts can be returned.
Get 2 web-sites "Helploan and Balanceloan" up-and-running.
(These are designed to attract genuine but mainly ID fraudsters).
Collect the 2 x £6 SMS money from both genuine and ID fraud applicants.
Run the scheme up to 10,000 applicants. (£60,000 revenue).
Dont loan any money but post on some forums that money has been received to enforce image of a legit operation.
Use a hijacked bank account to pay for checks with CRA's.
(This sifts out the ID fraud applicants who have good credit ratings from the genuine applicants who have nothing).
Send first letter to all ID fraud applicants.
A 1% strike rate will net £50,000.
If anyone contacts MCO - this confirms name/address and maybe even e-mail / signature - all good for loan report.
Send second letter - may net further revenue.
Sell everything to IJ at 10p/£ netting £0.5M. - dont know how far this process has gone.
Retire to warm climate with no extradition treaty, while authorities still think you are the victim and are feeling sorry for you.

Just a theory trying to explain the unexplained. Please find flaws, citicise etc as this is the way we can refine it to a working model that does address all the hitherto unexplained things that have happened.

So the Fin is well in at £0.6M +. This doesn't include selling all name/address/DOB info on to ID fraudsters. Evidence of this on this thread already. Loop-loaning can probably be added now as a means of slowing down the investigation.

Question for James (Experian) - why do any business with a company that doesn't have a credit rating? That's MCO - What are you going to do, sell this debt to IJ? - bet you never get paid!

grahamqat

Have reported inc. CRN to Experian e-mail:[EMAIL="identityfraud@uk.experian.com"]identityfraud@uk.experian.com[/EMAIL] as James asked. Will post reply here or may be James will reply direct on thread? Would really like to know why they traded with a company with no credit rating.

jahman

Experian_company_representative wrote: »

All three credit reference agencies provide free assistance for victims of ID fraud and we work together to help people set the record straight. So far more than 1000 victims of the MCO fraud have sought and received help from our Victims of Fraud team. Anyone who's been affected by this and has yet to contact us should get in touch at [EMAIL="identityfraud@uk.experian.com"]identityfraud@uk.experian.com[/EMAIL].

As far as Money Box is concerned, let me just clarify that I didn't agree to be interviewed twice at all. What they didn't mention is that I been helping them all week, that I provided full written responses to all their questions and actually offered to find them some case studies. I couldn’t personally get to a studio for this because of a family incident and existing commitments, which they were fully aware of. Also, we didn't tell MCO not to do an interview and we clarified this as soon as we became aware of the misunderstanding.

James Jones

Hi,

I'm not really sure that I'd agree that you provide free help. The help is free if you sign up for a paid for service for 30 days and then you have the hassle of cancelling. I have been involved in this because my father received letters from MCO. I decided to check my own credit report to be on the safe side, paying the £2 as I couldn't be bothered signing up with you and cancelling. On receiving the report I then discovered that you wouldn't talk to me on the phone about it and I had to fill in a webform and wait for you to get around to dealing with it. Not exactly sterling service IMHO.

It also seems that your password service leaves a lot to be desired as companies like MCO are free to ignore them. I presume Experian will be tightening up its procedures to ensure that companies which use their services abide by such things in future?

Cheers,

jahman

grahamqat

Hi Jahman - I've got issues with Experian too. More important, How's your Dad doing? I'm really worried about older folk. My Mum's 88 and I know one of these letters would worry her like mad.

piglets3_2

James,

Can you explain why I have received an e-mail from yourselves almost a week ago informing me that you had received replies from the companies you had contacted on my behalf and they had asked you to delete their search information from my report, & suggested I view the change on your site. 1. I have just viewed my report & two of the searches are still there. The third search was removed on my initial contact with your company 2. I spoke to the companies involved in the searches today & they told me the would be asking you to remove searches from my report - if - they were authorised. Not, that they had already requested you remove them. Can you clarify?

jahman

grahamqat wrote: »

Hi Jahman - I've got issues with Experian too. More important, How's your Dad doing? I'm really worried about older folk. My Mum's 88 and I know one of these letters would worry her like mad.

Hi Graham,

Yes, it certainly did concern my Dad and it was difficult to explain to him that he had nothing to worry about and that I'd deal with it.

Still waiting for results of his CT scan. I think he's doing better than he was but I can't go and see him so can't be sure.

I imagine that there were plenty of other elderly people who've been put through hell by this. It's bad enough for younger people but for them it's particularly difficult.

Cheers,

jahman

geomacl

Hi grahamqat
Interesting theory - but if, as you suggest, MCO are the real fradusters WHY are NFIB and AF saying that MCO are the major victim to the tune of around £1.5 million? We need to be told NFIS/AF representatives who are monitoring this site!!!!
Hi Jahman
Good to hear that you believe that your dad is improving - this lot of shysters have a lot to answer for:mad:

grahamqat

Hi Geomacl - the way I see it: the sending of a letter asking for a loan repayment that doesn't exist is attempted fraud. It isn't excused by saying MCO was a victim of ID fraud. There are reports from police that some people have actually repaid the non-existant loan out of fear. At this time I have seen no report of anyone getting their money back. As the loan letter constitutes a crime a CRN can be given. Also, there will be lots of evidence that ID fraudsters have applied on-line because that is what the web-sites are designed for. If the NFIB are carrying out such a good investigation ask yourself:
Why are people still getting letters?
Why are the web-sites still operating?
Who are the Police actually talking to? There is no evidence MCO have anyone in the UK. AF say on their web-site that IJ are standing in for MCO.
I'm not sure there is an investigation. As you say AF monitor the site and could update everyone as James has tried to do. They choose not to.