PPI firm behind 40 million cold calls silencedAction taken following hundreds of complaints
12 January 2016
A company responsible for making almost 40 million nuisance calls in just three months has today had its licence revoked.
Falcon & Pointer Ltd used automatic dialling technology to make millions of calls about mis-sold PPI in 12 weeks – leading to hundreds of complaints by the public.
The Claims Management Regulator (CMR) also found people had been coerced into signing contracts without enough time to understand the terms and conditions before payment was taken.
This was a serious breach of the regulator’s rules on conduct and means that Falcon & Pointer must cease handling claims immediately.
After the Swansea-based firm ignored warnings from both the CMR and the Information Commissioner’s Office (ICO) it has now been stripped of its licence and can no longer offer regulated claims management services.
Any Falcon & Pointer customers with an outstanding claim may be entitled to the repayment of any fees.
Help stop nuisance callers by reporting them to the regulators. More than 73,000 nuisance calls have been reported to watchdogs like the ICO using the Which? nuisance calls reporting tool.
Crackdown on rogue behaviour
The removal of Falcon & Pointer’s licence is the latest move in a concerted crackdown on rogue behaviour in the industry.
Since December 2014, the regulator has had the power to impose financial penalties on claims management companies (CMCs), like Falcon & Pointer, for breaching the rules.
So far, four CMCs have been fined more than £1.7m for a range of breaches, including unlawful unsolicited marketing and coercing clients into signing contracts.
Cold calling PPI firm ‘plagues the public’
Head of the CMR Kevin Rousell said: ‘Falcon & Pointer has demonstrated the worst excesses of the industry. This firm clearly set out to plague the public and rip off consumers.
‘They ignored warnings by us and the Information Commissioner’s Office, and today have had their licence revoked as a result of that wilful ignorance.’
Any regulated claims companies in breach of CMR rules on cold-calling or client services can be fined of hundreds of thousands of pounds and may be suspended or shut down.