News Irish News

Friday 23 August 2019

Gardaí issue warning over fraudulent loan websites

Stock Picture
Stock Picture Newsdesk Newsdesk

A number of websites are targeting vulnerable people with fake loans, gardai have warned.

Advance fee fraud from certain websites is aimed at those who find difficulty in securing a loan from established banks.

Victims of the scam will be called and asked to provide an amount of money in advance of receiving the loan, with a number of reasons given for the advanced payment.

This includes reasons such as an up-front fee, personal protection insurance or to show the victim has the ability to meet the loan repayments.

Gardai say that no loan payment is ever paid to the victim and the advance fee is lost.

Among the warning signs for such fraud sites are that the loan will be approved very quickly and without checks on identity, ability to repay or credit rating.

No paper documentation will be required by the lender and that the lender will ask for an advanced payment.

Gardai are advising never to apply for a loan from an entity that is not authorised by the Central Bank.

Online Editors

Editor's Choice

Also in Irish News