Warning over rise in pay day loan scams

Derbyshire detectives are urging the public to remain vigilant to payday loan scams where criminals use a false company identity.

The National Fraud Intelligence Bureau (NFIB) have released a report stating how fraudsters are targeting potential victims claiming to be from a genuine loan company.

The con artist will offer the victim a high interest loan and mirror the demands from loan brokers for an advance fee, adding to the legitimacy of the scam.

Detective Constable Julie Wheeldon from the East Midlands Fraud and Financial Investigation Unit said: “More and more people are turning to payday loans, particularly to cover the cost of Christmas.

“Ensure the legitimacy of the company by contacting Trading Standards for advice and checking reviews that the organisation has during an online search.”

For information visit: www.getsafeonline.org/themes/ChristmasChecklist/index.php/