AN Garda Siochana wish
to alert the public in Inishowen to an ongoing
advance fee scam related to online websites offering
unsecured loans.
A number of websites offering unsecured loans are
targeting vulnerable persons and those who have had
difficulty obtaining loans from established
financial institutions in a scam known as Advance
Fee Fraud!
A typical scam would proceed as follows:
1. The victim applies for a loan through a
website that offers loans which it is claimed will
be processed quickly. The website may also claim
that loans are available without the need for a good
credit rating or the need to provide collateral for
the loan and/or to provide any documentation apart
from basic personal details. Some of these firms
also claim to be regulated by the Central Bank of
Ireland when this is not the case.
2. The victim will receive a call or
communication within a very short time (often
minutes) informing them that their loan application
has been approved and providing details of the
amount of the loan and the monthly repayment.
3. The victim will then be asked to send an
amount of money to the lender in advance of the loan
amount being issued. There are different reasons
given for this advance fee, for example:
a. As an upfront fee
b. To pay for personal protection insurance on the
loan amount
c. To discharge overseas taxes
d. To show that the victim has the ability to meet
the loan repayments
4. No loan monies are ever issued to the
victim and the advance fee is lost.
Always check the official Central Bank website to
see if a firm is authorised by the Central Bank. The
register of authorised firms can be accessed at
http://registers.centralbank.ie/ . |
