Consumer groups were furious tonight as police said they would not investigate Wonga for sending threatening letters to customers in the names of fake legal firms.
The Financial Conduct Authority watchdog on Wednesday ordered the payday loans firm to pay compensation to customers affected but levied no fine and issued no full report on the matter.
The City of London Police said it had met with the FCA’s predecessor, the Office of Fair Trading, last March, and left the matter to the regulator. The force said: “This has led to a successful outcome representing compensation for the customers of Wonga.”
But Marc Gander, founder of the Consumer Action Group, said it was the job of the police “to investigate properly where it looks like there could be criminal activity, and that certainly seems to be the case here”. Labour MP Stella Creasy added: “There is a serious question here about why the police aren’t investigating.”
Wonga said: “Anyone involved has left the company.”