11. A moneylender shall not for the purpose of his business as such concern or publish or cause to be issued or revealed any advertisement, circular, business letter or legal loan different related document which does not show in such manner as to be not much less conspicuous than every other name the authorised name of the moneylender and any moneylender who acts in contravention of this part shall be liable to a positive not exceeding one hundred dollars in respect of every offence. (Amended by 2 of 1945, s. 117.)
Firms should bear in mind of other lists, such as the Financial Action Activity Drive (“FATF”) publications that establish “high risk and other monitored jurisdictions” which lists countries with weak measures to combat cash laundering and terrorist financing. If transactions originate from or are routed to any FATF-identified countries, it may be a sign of suspicious activity.[8]
One small difference – Lenders aren’t really lenders. The loan is definitely made by Prosper with their own operating funds when enough “lenders” have agreed to fund the mortgage. As soon as Prosper makes the loan, the “lenders” buy pieces of the mortgage. I put the word lenders in parenthesis as a result of they aren’t really lending cash, they are buying a bit of the loan that Prosper made. At this level, you change into a lien holder. The term lender is used as a result of it is less complicated to establish with.