A loan comparison site which works with a number of major high street banks has been cloned by fraudsters.

Hertfordshire-based credit broker, Click Search Media Limited, is an FCA-authorised company that runs www.trueloan.co.uk/, which compares loans from home improvement to debt consolidation amongst some of the major high street banks including Natwest, Lloyds Bank and Halifax.

However, the FCA has issued a warning that the authorised firm has been cloned by fraudsters who are using its details and cold-calling customers.

Click Search Media Limited has confirmed that it has no association with the clone firm and the FCA has advised people not to deal with unauthorised firms.

The fraudsters claiming to be True Loans are using the email address [email protected], where the regulator has warned the public to be aware that the scammers may give out false details, as well as mixing them with correct details of Click Search Media Limited.

On the Click Search Media Limited website, it states: “TrueLoan.co.uk is put together by an experienced team of individuals to help you make the best choices for your loan. Comparing with us might save your time, effort & money at once.”

The regulator also warned that if anything goes wrong after giving money to an unauthorised firm, it will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme.