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Australia
2016 (10 Years)
Last online: No recent activity
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This company is currently Unproved.
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License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know Friendly Finance Australia
Company Information
Get to know Friendly Finance Australia
Friendly Finance Pty Ltd was an Australian online lender that specialized in providing small amount credit contracts (SACCs), commonly referred to as payday loans, to consumers. The company was part of the European-based Friendly Finance Group. It targeted individuals in need of quick, short-term financing, typically ranging from a few hundred to a couple of thousand dollars. In 2019, the company entered voluntary administration and subsequently liquidation, ceasing all lending operations following significant financial difficulties and regulatory scrutiny from ASIC regarding its lending practices.
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