Scammers who falsely claimed they could recover money for consumers are being banned from the Advance Fee Recovery business by the FTC. These operators targeted victims of timeshare resale and investment scams then misled these consumers into believing they would recover most of the money they had originally lost.
Reform Online Lending backs the FTC and their decision to ban these scammers from selling recovery services, collecting payments for any recovery service and profiting from these victims’ personal information. This recent FTC action supports Reform Online Lending’s fight to rid the alternative financial services industry of bad actors and its goal to return any money stolen from consumers.
Reform Online Lending is continuously working hard to prevent fraud and uncover scam artists who contaminate the industry. If you are an employee of the online lending industry and witness or believe your employer is committing fraudulent activity, let ROL know! You may be eligible for Reform Online Lending’s $25,000 reward!