The Malta Financial Service Authority (“MFSA”) has become aware of an entity by the name of Lor Service Libre which is promoting the provision of loan services via social media; services which are licensable and fall under the Banking Act, Chapter 371 of the Laws of Malta.
The Authority would like to inform the public that Lor Service Libre is NOT registered NOR authorised by the MFSA to provide loan services, any form of credit services or any other financial services in Malta. The MFSA therefore alerts the public, in Malta and abroad, to refrain from undertaking any business or transactions with the above-mentioned entity.
The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. A list of MFSA licensed entities is available and can be viewed on the official website of the MFSA at http://www.mfsa.mt/pages/licenceholders.aspx.