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Islington Council warns of loan scams after a resident loses £150

PUBLISHED: 12:52 13 August 2012

Victims have been targetted after applying for a loan.

Victims have been targetted after applying for a loan.

Archant

A warning has been issued by Islington Council after a resident lost £150 to a loan scam.

The fraudsters typically strike several days after a person has filled out an online application form for a loan. The victims then receive a call or email offering a loan, and asking for a payment in advance to be made via Ukash or Western Union – both popular ways of paying for goods online.

Such payments are equivalent to cash and the council has warned they are very hard to trace if the loan fails to materialise, as happened in the recent scam.

Islington Trading Standards stressed that genuine loan firms will not ask for fees to be paid in this way.

Cllr Paul Convery, Islington Council’s executive member for community safety, said: “It’s despicable that fraudsters are ripping off people who are already in need of a loan. Say ‘no’ if a loan company asks for money up front via Ukash or Western Union. Where we have evidence against fraudsters, we will take firm action to protect residents and put criminals out of business.”

n For advice on debt and money worries go to www.islington.gov.uk/advice/money-advice. For advice or to report a suspected scam call 020 7527 3198 or email trading.standards@islington.gov.uk.


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