Wonga could face legal action over 'impersonation'

By ITV News Business Editor Joel Hills

Wonga is Britain's biggest and best-known payday lender. In an industry that has a terrible reputation, Wonga has always maintained that it was somehow different.

We now know that between 2008 and 2010 it was sending threatening letters to customers in arrears from law firms that didn't even exist.

In some cases they levied administration fees of up to £400,000.

Wonga has been fined £2.6 million over fake legal letters it sent to its customers.
Wonga has been fined £2.6 million over fake legal letters it sent to its customers. Credit: Wonga

Wonga is paying compensation - but it has not been fined.

The regulator is a new one, the FCA has only been around for three months and doesn't have the power to impose fines for things that happened four years ago.

But we do know that the regulator has asked the police to assess whether criminal proceedings should continue because it is illegal to impersonate a solicitor.

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Police to look again at fake legal letters sent by Wonga

City of London Police have confirmed they are to look again at whether they think a criminal investigation into Wonga would be appropriate after the payday lender sent out fake legal letters to customers.