Author Topic: Advance fee loan scams  (Read 2109 times)

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Offline Maik

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Advance fee loan scams
« on: Tuesday, 31 May, 2022 @ 12:28:25 »
Britain's biggest bank issues 'urgent warning' over new scam

Britain's largest bank has issued an urgent warning following a spike in a new scam targetted at those struggling with the cost of living.

Lloyds Bank said it had seen a 90pc surge in so-called "advance fee" frauds in which scammers pose as a legitimate firm and demand money upfront for a loan. Victims have lost an average of £231, the bank said.

The scam sees fraudsters contact victims who have entered their details into a seemingly professional website after searching for a loan online.

Lloyds said scammers were posing as representatives of legitimate loan companies – even sending documents to back up their claims. It said reports of advance fee fraud had increased by more than 90pc already this year, with the number of cases “continuing to rise sharply”.