MCO Capital loan

Experian_company_representative

I can assure you that MCO are fully co-operating with police enquiries into this matter. Along with all the innocent consumers who've been affected by this fraud, MCO are also victims of course and they will be hoping the police find the culprits.

James Jones

grahamqat

But James, if they are co-operating with Police, why are they still sending out fraudulent letters? and why are they still running the web-site that caused the problems in the first place?

Eaglemar

What co-operation is this from MCO in regards to consumers? I have heard zip all from MCO other than 2 letters trying to get me to pay them money for a fraudulent loan.
I have seen no evidence to suggest anything other than them also being crooks. Or at least running a poor excuse for a loans company.

Experian_company_representative

As far as I'm aware, once they're alerted to a fraud they cease any collections activity. I think you'll find that MCO has reviewed its website and processes in view of the fraud.

James Jones

Eaglemar

Oldbloke wrote: »

Just had a response from Experian regarding the email I was asked to send to their identity fraud people; very prompt I must admit.

It says they're going to write to MCO, but how can you write to a company that only exists in cyberspace? Do a google search on MCO and nothing comes up apart from this scam; no advertising anywhere in the UK, no bona fide information anywhere other than Companies House, and that's out of date!

Well I sent an email to them yesterday as advised on here and have heard nothing yet.

Eaglemar

Experian_company_representative wrote: »

As far as I'm aware, once they're alerted to a fraud they cease any collections activity. I think you'll find that MCO has reviewed its website and processes in view of the fraud.

James Jones

I'm sorry to say but the phrase closing the stable door once the horse has bolted springs to mind!!

Oldbloke_2

Experian_company_representative wrote: »

I can assure you that MCO are fully co-operating with police enquiries into this matter. Along with all the innocent consumers who've been affected by this fraud, MCO are also victims of course and they will be hoping the police find the culprits.

James Jones

Thank you James for making posts on the forum.

How can MCO be fully co-operating with police when they do not have a trading address, and only a foreign website to hide behind?

It would appear from the information available on MCO Capital Ltd., the British legal entity, that the company was set up to do something such as this. There can be no excuse for trading with a DORMANT NON-TRADING company. This is their official SIC code, still valid with Companies House at present. Surely Experian have an obligation to make enquiries about the validity of British companies before providing sensitive information about British citizens? And as for their CCL, it clearly states on the licence that they are not entitled to canvass off premises. As the registered address for the licence is their registered office address, and they are clearly not trading at this address, then they are in breach of their CCL and should have it revoked immediately.

PS. Hi georgemacl, glad to be back; I've watched with interest this past week or so, but now that James is prepared to make posts, it makes it even more enlightening.

PPS. Hi grahamqat, Couldn't agree with you more.

grahamqat

Hi Oldbloke - I'm with you on that, not sure what "co-operating with Police" actually means in this context. Probably means they send them the odd e-mail. As you say there are no manned offices in the UK where MCO is a cyber-entity only.

alan_se

Experian_company_representative wrote: »

Re passwords, by law all lenders HAVE to read notices of correction on credit reports. If you have evidence of this not happening I would like to see it please. I think we also advise victims to get a Protective Registration through CIFAS which should further ensure that future credit applications are checked very carefully.

James Jones

Hi James,

Firstly thanks for posting on this forum.

With regard to notices of correction and CIFAS protection - in my case the MCO 'loan' was processed (in July) despite having both security devices in place on my Experian credit account. (Following my identity being cloned 3 years ago).

Re the password/Notice of Correction, I asked Experian for the reason why that had failed to stop MCO and I was advised that each company making credit enquiries has their own policy and if they choose to ignore the Notice of Correction and password request that's up to them. (I have detailed notes on my calls and can provide you with dates etc if there is a secure way to get you this information).

Regarding the failure of the CIFAS protection I queried this with CIFAS directly and their emailed response was :-

“As you are already aware, your CIFAS Protective Registration warns our Members when they receive an application made in your details that you are at risk of identity fraud. Unfortunately neither of the companies mentioned in your enquiry are CIFAS Members. They would therefore not have seen any warning.” (The two companies were MCO and Gothia, who seemed to have acted for MCO in July/August).

I wasn’t aware that CIFAS operated on a membership basis - and neither was the Action Fraud representative when I told them the same thing.

As I already had in place the two key pieces of anti-identity-fraud security that various agencies are recommending I am sure you can imagine that the MCO fraud has been particularly frustrating for me.

Is there any system I and others could use to ensure that Experian (and Equifax/CallCredit) MUST refer this type of enquiry back to me before it's too late?

Alan

jahman

Experian_company_representative wrote: »

As far as I'm aware, once they're alerted to a fraud they cease any collections activity. I think you'll find that MCO has reviewed its website and processes in view of the fraud.

James Jones

I sent an email to Helploan on the same day that I discovered that my father had received a letter from them and to which I have had no reply whatsoever. He has received two more threatening letters from them since despite my notifying the police.

I would not describe MCO as victims either. They are the architects of their own misfortune and the persecutors of thousands of innocent people; those are the victims.

Cheers,

jahman