Gardai have warned the public over an online loan scam that is targeting vulnerable people.
The trick sees the victim apply for the loan online without the need for a good credit rating, or any need to provide documentation beyond basic personal details.
The victim will then receive a call saying that their application has been successful, and asking them to send money to the lender in advance of the payment of the loan.
Scammers will claim this money will be used as either an upfront fee, to discharge overseas taxes, to pay PPI insurance on the loan or simply to show that the victim has the ability to meet their repayments.
In a statement, Gardai said: “We are continuing to receive reports from people who have fell victim to Advance Fee Fraud which relates to online websites offering unsecured loans. This can affect both the private individual and those in the business world.
“There are a number of websites offering un-secured loans which target the more vulnerable. This is sometimes very attractive because it offers loans that are processed quickly and without fuss.
After applying online, the person that’s targeted by these scammers will receive a call or communication within a very short time (often minutes) informing them that their loan application has been approved.
The person will also be asked to provide details of the amount of the loan and the monthly repayment. The victim is then asked to send a…
