watchdog - wonga loans

DCFC79

Its about time something happened, clearly the money wonga spent on security wasn't enough or was mis managed and didnt cover all aspects of security.

MrSilk

lovinituk wrote: »

You do realise it was the poster above who posted the caption on Twitter and not Wonga, don't you?

Oops!! :D:D:D

dacouch

robpw2 wrote: »

@WongaGillian anne robinson reading wonga contracts before #bbcwatchdog pic.twitter.com/BGHRWmrz


its humourous to me not sure they will like it

The caption I tweeted to her last night was "Darryn Bowman reads Gerald Ratner's How to succeed in Business book in preparation for BBC Watchdog".

Please everyone who has a Twitter Account send them a caption, they will be hating their timing of the competition, assuming they've not had the sense to delete it.

lovinituk

dacouch wrote: »

Please everyone who has a Twitter Account send them a caption, they will be hating their timing of the competition, assuming they've not had the sense to delete it.

I think they are probably screening them as robpw2's caption is the only one showing! That probably means that MrSilk's post above wasn't far wrong after all!!!

Stretlow

I work in the fraud industry (prevention not committing ) and watchdog in my opinion got the wrong end of the stick.

I have no love for Wonga and have the misfortune of dealing with them every day but I cant help but point out how difficult and rife identity fraud/account takeover is in the uk.

Yes, there's no excuses for taking out money of an account after the fraud has been reported which was mentioned last night however if a second party has every single detail on someone and applies for a loan, it's very difficult (not far off being impossible) to detect it.

Wonga are one of thousands of merchants in hundreds of different categories that are targeted in the uk every day.

The chap (who clearly isn't going to win a place in parliament) didn't get chance to explain the issues they encounter on a daily basis due to that idiots methods of conducting an interview.

Stret

MrSilk

Stretlow wrote: »

I work in the fraud industry (prevention not committing ) and watchdog in my opinion got the wrong end of the stick.

I have no love for Wonga and have the misfortune of dealing with them every day but I cant help but point out how difficult and rife identity fraud/account takeover is in the uk.

Yes, there's no excuses for taking out money of an account after the fraud has been reported which was mentioned last night however if a second party has every single detail on someone and applies for a loan, it's very difficult (not far off being impossible) to detect it.

Wonga are one of thousands of merchants in hundreds of different categories that are targeted in the uk every day.

The chap (who clearly isn't going to win a place in parliament) didn't get chance to explain the issues they encounter on a daily basis due to that idiots methods of conducting an interview.

Stret

I agree, There is no excuse to dip into an individuals bank account and take as much money as and when you please. I personally cannot see how he could have explained this.

It is wrong and immoral, and this company needs to rethink it's business strategy if they wish to succeed further. of course, they aren't at all bothered, as in their eyes there will always be vulnerable people who have no other option but to use their shocking services. I understand that there is a clause in the T&C's that actually allow them to do this? shocking.

WestonDave

The problem is arising because Wonga is paying the money into one account and trying to recover it from another. Yes fraud is the root of that but so is a don't give a xxxx attitude by Wonga who don't care who the account they are claiming money from belongs to if it gets them their money back. They won't institute a system whereby they insist on only claiming the money back from whence it was sent because that would reduce their recovery options - the actual account holder is "acceptable collateral damage" in their eyes!

Daedalus

How does this happen? Do the fraudsters set up a new bank account and have the loan sent to that account? If so, why does the money get taken from another account?

inmypocketnottheirs

The interesting fact for me is Mr Bowman claiming their fraud rate is 1/1000, apparently lower than the industry average.

In the interest of creating a good story, it seems to me that Ms Robinson isn't really interested in the truth, in case it gets in the way.

Either the story is the handling of fraud cases or the charges Wonga make. These are two separate issues but Annie wanted to roll them into one to bludgeon a guest who wasn't given the opportunity to address the issues presented.

Cheap journalism.

topsales

Oh well - received my fraudulant payment back - but without interest as promised....