FCA Loan Fee Scam Warning: The Financial Conduct Authority (FCA) is today urging the public to be alert to the growing threat of loan fee scams targeting borrowers. This plea comes as last year over £3.5 million was lost to loan fee fraud and reports to the FCA consumer helpline increased by 44%.
Victims of loan fee fraud are often targeted while searching for loans online and are then contacted by criminals offering a loan. The criminal tells the victim they have to pay an upfront fee for the loan which they ultimately never receive. Once the first payment is made victims are often persuaded to make multiple payments – last year the average loss was £740. more
Horse Buyer Warning: Action Fraud is warning horse buyers about fraudulent ‘for sale’ adverts. Criminals are placing fake adverts on reputable equestrian sale websites to scam victims out of large amounts of money. Criminals will even support their claims of the horse’s existence by supplying copies of relevant ownership documents, pictures and videos of the animal.
Although the adverts claim the horses are located in the UK, victims are later told that they’re located elsewhere in Europe and that the horse’s shipment can be arranged via an animal transport company.
On agreeing to buy the horse, victims are then contacted by someone who claims to be an agent of the transport company, who asks them to pay the purchase price and shipping costs of the animal either by money transfer or a direct transfer of funds into a nominated bank account. more
TV Subscription Warning: Action Fraud have noticed an increase in reports where criminals are offering victims discounts on their TV subscription, or told their account needs to be renewed.
Criminals are cold-calling victims, purporting to be from a Television provider offering a discount on their monthly subscription. Victims are usually told their subscription needs to be renewed, part of (or all) of their TV equipment has expired or they are due an upgrade on their equipment/subscription package.
In order to falsely process the discount, the criminals asks victims to confirm or provide their bank account details. The criminals may also request the victim’s identification documents, such as scanned copies of passports.
Later victims make enquiries and then discover that their TV service provider did not call them and that the criminal has made transactions using the victim’s bank account details. more
- Make a scam/rogue trader complaint to Trading Standards via Citizens Advice Consumer Service on 03454 040506.
- Warwickshire Trading Standards Website Facebook Twitter
- Sign up to scam alerts at www.warwickshire.gov.uk/scams
- Avoid rogue traders. Use Warwickshire Trading Standards No Rogue Traders Here approved trader scheme
- Please feel free to pass on or re-publish this email alert