Official warning from the British Vehicle Rental and Leasing Authority (BVRLA)

We are all constantly told to be extra vigilant when sharing personal information – fraudsters pretending to be calling from your bank or people raising money for fake charities to get your credit card details. Social media is a place you should take extra precautions, and this applies also to financial promotions you may see online.

 

The British Vehicle Rental and Leasing Association (BVRLA) has been made aware of a spate of fraudulent activity, where scammers are advertising bogus vehicle leasing deals on social media and are extracting money from unsuspecting customers.

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Using social media advertising, including Instagram, the scammers are posing as BVRLA members to lure in customers with advertising headlines targeting those with poor credit ratings.

The BVRLA is urging the public to exercise vigilance and think twice before responding to any adverts that promote vehicle leasing deals that require ‘No credit checks’, promote ‘No deposit’ and ask people to ‘Direct Message’ via text to get the deal.

BVRLA Chief Executive, Gerry Keaney said: These criminals are purposely targeting the vulnerable, scamming money from people who can least afford to lose it. It’s deplorable. Their adverts can appear very convincing with some even posing as BVRLA members and citing membership numbers of legitimate members... We want to get the message out there that all legitimate leasing brokers adhere to Financial Conduct Authority rules and will carry out credit and affordability checks. Those who don’t, will not be legitimate traders and could be out to scam you.”

The BVRLA has reported this emerging threat to the authorities and will continue to explore ways of increasing awareness to protect customers and BVRLA members.

If you come across this scam, report it to Action Fraud quoting the reference: NRC 1808 0249 5417

You should always check the credentials of a person or company selling goods or services regardless of how official their advert looks. Customers who want to check whether a leasing broker is a genuine can do two things:

1.

Contact the BVRLA directly to check if they are truly a BVRLA registered leasing broker.

2.

Check to see if they are registered with the Financial Conduct Authority (FCA) to offer such financial services. The FCA website has an easy-to-use checker, try it for yourself by entering ‘Balgores Leasing’ or our FRN number 653426.