A warning has been issued over the increase of an advance fee loan scam in which victims hand
Advance fee fraud requires individuals to pay a fee before receiving a promised sum of money which is never paid.
Gardaí have noticed an increase in this practice recently with a number of websites offering quick, easy, unsecured loans.
In these frauds, the victim is required to fill in a short application that looks for their details.
Once these details have been submitted a follow up phone call is received from what appears to be an Irish number. The victim is informed via the telephone call that their loan has been approved but they are required to make a payment in advance of the loan being paid into their account.
Reasons for fees can vary but can include:
• Insurance fees
• Set up fees
• First instalment in advance
The websites used in these scams look professional in nature but there are a number of Red Flags which the public should look out for. These include (but not limited to):
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…
