The public have been warned about “advance fee fraud” which is scamming people out of money online.
The scam targets people who are seeking a loan by falsely advertising quick and easy cash.
The fake loan is advertised on professional looking websites and victims fill in their details in a short application.
You will then receive a follow-up phone call from what appears to be an Irish phone number.
The scammers say that the loan has been approved but they have to make an advance payment in order to get the cash.
Different reasons are given by fraudsters for the advance fees but they can include insurance fees, set up fees or first instalment in advance.
After the victim pays the advance fee, they never receive the loan.
Gardai have said that these websites look professional but there are some red flags the public should keep an eye out for.
These include:
1. The common trend with all these sites is that they are offer quick and easy money.
2. No guarantor or security is sought and no checks on the individual’s ability to pay will be made and no documents / proof of ID will be sought.
3. The requirement that a fee is paid in advance of the service being provided.
4. The fraudster will put pressure on the victim to act quickly or the opportunity will be lost.
5. The company offering the loans is not be regulated by the Irish Central Bank. Even though they may claim to be so regulated or will say they don’t need regulation as they are experienced.
