Fintech Faces FCA Probe Over Fake Data In Valentine Ads
Law360, London (February 11, 2019, 5:28 PM GMT) -- A digital banking company faces scrutiny by the Financial Conduct Authority after a series of complaints were made to the advertising watchdog about the use of fictitious consumer data in a “singles-shaming” ad campaign run on the London Underground rail network.
The Advertising Standards Authority has passed on complaints made about the recent subway campaign by Revolut, a financial technology company, to the City regulator. The adverts claimed to have used genuine statistics to poke fun at singles in the run-up to Valentine’s Day on Feb. 14. It had in fact made up the figures.
One of Revolut’s adverts read, “To...
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