The UK’s financial watchdog has issued a warning to companies offering “buy now pay later” schemes that they could be committing a criminal offence over misleading and harmful adverts.
“Buy now pay later” adverts – which allow consumers to buy products on credit and pay for them at a later date – could be misleading consumers by failing to warn of the risks of taking on debt they cannot afford to repay, the Financial Conduct Authority (FCA) said.
