Scam Targeting Cash Loan Seekers

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The Central Bank of Ireland has issued a warning about a scam that’s going after people seeking cash loans online. They want you to watch out for scammers asking for upfront fees. If you’re applying for a loan, make sure the lender is regulated by the Central Bank to avoid falling victim to this ruthless scheme. Scam Targeting Cash Loan Seekers

The bank has noticed a surge in cases of “advance fee fraud,” where scammers promise cash loans in exchange for upfront fees. Legitimate high-cost credit providers won’t charge you such fees, and they won’t ask for money to “release” your loan or its paperwork.

Colm Kincaid, the Director of Consumer Protection, emphasized the importance of being cautious and said, “If anyone asks for an upfront fee, walk away. Legitimate lenders won’t charge you for applying. Even if they don’t ask for a fee, check our register to ensure the provider is regulated by the Central Bank for your protection.” The Central Bank is actively working to combat these scams and protect consumers.

Scam Targeting Cash Loan Seekers

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