View more on these topics

ASA bans claims firm ads targeted at Lloyds customers

The Advertising Standards Authority has banned two “misleading” online adverts from a claims management company which targeted customers of Lloyds Banking Group.

The Claims Guys adverts appeared in recipients’ newsfeeds on Facebook.

The first advert was headed ‘Bank refund applications’, and stated: “Refunds are being made to many people who have had a Lloyds TSB account, and have been missold insurance sometimes without their knowledge. Please click below to start your application online.”

The second advert had the same heading and stated: “Refunds for Lloyds Account Holders: A large number of policies were missold alongside Lloyds loans and credit cards, and you could be entitled to a refund.”

It also included a cartoon image of people’s raised hands, with the text: “Don’t be the last to claim your Lloyds Refund.”

The ASA received complaints from Lloyds Banking Group and a member of the public, who challenged whether the adverts made the advertiser’s identity clear, and misleadingly implied the advertiser was Lloyds or affiliated with the bank.

The ASA ruled that consumers would not be able to identify from the advert that The Claims Guys was the advertiser, and the adverts were therefore ”likely to materially mislead”.

It has told the firm the adverts must not appear again in their current form.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. We're all doomed!!!! 1st October 2014 at 11:35 am

    Whilst not condoning Lloyds Banking Group for their alleged miss-selling, I am disappointed that more was not done to penalise this company, “The Claims Guys”

    They represent all that is wrong with Claims Management Companies, and, having seen many of their ads on my own Facebook Newsfeed, it was obvious that they were trying to give the impression that they were in some way associated with the Bank.

    Many people I know, who do not work in Financial Services, thought they were connected to the Bank in some way, or even that they were LBG.

    A much better outcome to this would be a large fine for “The Claims Guys”, or for them to be closed down.

  2. As outlined above, FB seems to be full of ads implying it’s the Bank in question which you are contacting whereas there’s a CMC behind it.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com