Internet scam warning

Police warning after reports of an internet loans scam.

POLICE are warning residents in East Devon to take care when searching for loans on-line after reports of an internet scam.

A number of complaints have been received from people who have been conned by fraudsters pretending to be genuine loan companies.

Following an initial on-line enquiry the scammers phone customers to agree a loan and request that an initial payment and administration fee is paid up front.

After the money has been transferred via a transfer agent, no loan is received and the company deny all knowledge of the loan.

DC David Wright, Force Internet Crime Investigation Team, said: “Many people are finding it hard to cope financially at the moment and these loans can appear very attractive as a way of dealing with their situation. However the company may not be genuine.

“Make sure you do your research first before signing up to anything. Remember if anyone asks for money up front, don’t sign up. And if the rates look too good to be true, they probably are.”

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To ensure that the loan company is genuine verify the caller, taking their name and phone number to check that the company information is correct.

The scammers often request that you use reputable money transfer agents such as Western Union or MoneyGram.

Genuine financial institutions will not use these services as they are designed for personal use not as a commercial banking service.

If you are a victim of this scam call police on 08452 777444.

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