This is a truely shocking scheme but I suspect it will be oversubscribed
Fortunately, FR's growth policy change, this scam and the new CTC scheme may just be enough to tip the balance with the banks (who are already adopting a hard line I understand) to put an end to such degradations of terms.
It does also go to make the FR recruitment look more attractive than it might have previously - at least you get paid a reasonable amount and should get a healthy dose of hours.