House price in the UK continues to fall in November 2010. Mortgage lenders describe the recovery of mortgage as still “not in sight”. Potential house buyers are more frustrated than ever. According to a survey by LSL Property Services, these buyers are continuing to push up the rental cost of a property in the UK. [...] Read more »
SMS Loan Companies: Risks of Being Exploited for Money Laundering
The Swedish financial watchdog Finansinspektione (FI) has reported their investigation of the SMS loan companies in Sweden. SMS loans are non secured, small, typically under 3,000 SEK (450USD), loans which can be applied by simply sending the application through a SMS text message. The loan is transferred into a bank, but can be repaid by cash. [...] Read more »
In the News: Young Swedes trapped by SMS loan debt
Fire off a simple text message, wait 15 minutes and presto, 3000 kronor ($500) land in your account; the simplicity of obtaining SMS loans in Sweden is increasingly luring youths into debt. A SMS loan, or a text message loan, is a small credit loan which can be applied via a SMS message with your [...] Read more »