Take note.
Gardaí have issued a warning to the public over instances of Advance Fee Fraud detected in Ireland.
The Garda National Economic Crime Bureau want to alert the public to an ongoing Advance Fee Fraud related to online websites offering unsecured loans.
The scams are targeting vulnerable people and those with poor credit rating.
The websites offers victims a loan which it says will be processed quickly and without the need for good credit rating or collateral. It also only requires basic personal details and falsely claims to be regulated by the Central Bank of Ireland.
Victims will receive a call shortly after saying their loan has been approved and be provided with details for a monthly payment, but will be asked to send an amount of money in advance of the loan being given.
Some of the reasons they give for the fee are:
- As an up-front fee
- To pay for Personal Protection Insurance on the loan amount
- To discharge overseas taxes
- To show that the Victim has the ability to meet the loan repayments
However, no money is issued to the victims and the advance fee paid by them is lost.
Gardaí have warned the public to be vigilant and to watch out for some warning signs:
- The website will claim to offer a fast and easy way to apply for a loan on line
- The loan will be approved very quickly and without checks on identity, the ability to pay or credit rating
- No hard copy/paper documentation will be required by the lender
- The lender will ask for a payment of some kind in ADVANCE of the loan being given to the applicant
- The lender will NOT be authorised by the Central Bank of Ireland although it may claim (on its website or during a telephone call) that it is.
The public are urged to never apply for a loan from an entity not authorised by the Central Bank of Ireland, and there is a list of authorised firms on the Central Bank’s website here.
But it is also important to note, there may also be instances where a firm “clones” the details of an authorised entity by taking the details of an authorised entity and claiming to either be that entity or an associated entity.
Further information in respect of unauthorised firms that has already come to the attention of the Central Bank is available on the Central Bank’s website here, but there may be scams out there that have not yet come to the attention of the Central Bank .
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