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    Personal loans: Online scammers rip-off Britons for hundreds of pounds.

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    papa_umau
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    Personal loans: Online scammers rip-off Britons for hundreds of pounds.

    Post by papa_umau on Tue 03 Jul 2018, 11:09 am

    BRITONS searching for personal loans online are increasingly being ripped off for hundreds of pounds by unscrupulous scammers.

    Victims lost more than 3.5million to loan fee fraud in 2017, a sharp 44 per cent rise over the year.

    Yet almost three quarters of people are unaware of the scam, where victims searching for loans online are contacted by the crooks, then asked to pay an upfront fee for money they never receive.

    NEVER PAY UP FRONT FOR MONEY ONLINE.

    The average loss last year was 740 and Mark Stewart, executive director of enforcement and market oversight at the Financial Conduct Authority (FCA), said: Before applying always check who you are dealing with, be sceptical and make sure the loan provider is authorised by checking our register at Fca.org.uk.

    Loan fee fraud has now overtaken investment fraud as the most common scam reported to the FCA.




    There you are folks. Right from the horse's mouth.

    Before applying for money "loans" online check that the company offering the money on the FCA's website is really registered.[/b][/b]


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    zathrus
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    Re: Personal loans: Online scammers rip-off Britons for hundreds of pounds.

    Post by zathrus on Thu 05 Jul 2018, 10:09 am

    And most of these personal loans offers are what is known as "pay-day" loans with very high interest rates of often over two thousand percent.

    Why the people do not see through these "easy" loans is a surprise to me.
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    papa_umau
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    Re: Personal loans: Online scammers rip-off Britons for hundreds of pounds.

    Post by papa_umau on Fri 06 Jul 2018, 11:17 am

    I can tell you why Zathrus: The people that take out so-called "easy" loans are the people that are refused by the ordinary banks to usual interest charges.

    Why this is the case is that the people who cannot get loans anywhere else are a bad risk and that is why they are charged a great lot of interest for money online.


    Last edited by papa_umau on Sat 07 Jul 2018, 11:37 am; edited 1 time in total


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    Angie baby
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    Re: Personal loans: Online scammers rip-off Britons for hundreds of pounds.

    Post by Angie baby on Sat 07 Jul 2018, 11:36 am

    It is the people who look for these types of loans that build up the numbers who get scammed.

    Easy money is a big temptation for many, but it is flies to a honeypot for the folk that want stuff but do not have the money to pay for it.
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    papa_umau
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    Re: Personal loans: Online scammers rip-off Britons for hundreds of pounds.

    Post by papa_umau on Sun 08 Jul 2018, 11:31 am

    A very astute "flies to a honeypot for the folk that want stuff but do not have the money to pay for it" phrase there Angie.


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