Gardaí in Limerick issue warning following online loan scam ahead of festive season

GARDAÍ have issued a warning about a recent online loan scam that targeted a man in his forties from the Kilmallock area.

This caution comes as the festive season approaches, and people may be looking for loans online.

It has been reported that the victim applied for a loan online and was initially told that his application had been rejected.

However, he later received a phone call stating that his loan had been approved. To proceed with the loan, he was then asked to deposit a minimum of €290 into a specific bank account. Trusting the caller, he transferred the money using an IBAN number provided.

Later in the day, he was asked for an additional €699 under the guise of "loan tax." This request raised suspicions, prompting the victim to investigate further. He soon realized that he had fallen victim to a scam.

According to Sergeant Ber Leetch, Crime Prevention Officer at Henry Street garda station, it's possible that the scammers gained access to the personal information of loan applicants through a breach in the security of online financial institutions. 

"Fraudsters use a loan applicant’s need for the money to trip them up and cheat him out of cash," she said.

With the festive season around the corner and the desire for extra funds increasing, Sgt Leetch provided some crucial advice to help safeguard individuals seeking online loans.

She advised people to only choose trusted lenders, secure your internet or wifi connection, only use official apps, and strengthen passwords and PINs.