The Story Of A Very Naughty Ninja

I had intended to write about something completely different for my next post, but a comment on This Guardian article said:

If you’re bored, try checking how many of these companies claim to hold trade body membership – e.g. Payday Ninja have the Finance & Leasing Association logo at the bottom of their site but are not FLA members.

1. Fraudulent claims of ‘no credit check loans’?  Check.

2. Abuse of a Consumer Credit License not issued to them? Check.

3. Using a domain extension that the OFT will never grant a Consumer Credit License to? Check.

The recent announcement of a wider range of different suffixes offers the potential for further misleading implications. Even before further liberalisation the OFT has refused to accept the suffix ‘.org’ where the business in question is profit seeking and will continue with this specific approach. Further, the same principle will be adopted more generally. The use of suffixes which are descriptively neutral, such as ‘.co.uk.’ ‘.com’ ‘.net’, will not be challenged. However, where a business intends to use any other suffix in its on-line trading name, then it could mislead. Accordingly use of such a suffix will make a name notifiable even where the substantive element of this on-line name is already on its credit licence. This approach will be subject to early review as the use of different suffixes develops. – Source, OFT.gov.uk

4. Falsely pretending to be a member of the Finance & Leasing Association? Check.

You can visit the Finance & Leasing Association site and check their Members List and you will see there is no record of Payday Ninja or Swift Money Ltd.

5. Falsely pretending to be affiliated with Kiva.org? Check.


There are absolutely no mentions of Payday Ninja, Paydayninja.org or Swift Money Ltd on the Kiva.org website. Any pages like this are easy to locate via a search. As a random example here is a Starbucks Employees lending page.

6. Fraudulently pretending their site is secured by Verisign? Check.


The site is not a secure site at all – they are lying to customers by saying Verisign are securing their server.

So there you have it

6 massive law breaking issues, all from the one little Ninja.  Does anyone else see the irony in this statement on their homepage…

There are certainly disreputable lenders within the marketplace that are taking advantage of people in financial distress. In order to avoid those situations, choose a company that you can trust, Payday Ninja.

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