Limerick woman targeted by loan fraudsters loses cash

A LIMERICK woman who paid over a significant sum of money as a 'deposit' to secure a loan, was the victim of fraudsters, gardai believe.

Divisional crime prevention officer Sergeant Ber Leetch is warning people not to be tempted by offers that appear too good to be true.

"Starting back to school or college is a very expensive time and people do apply for loans so do not be tempted by online ‘fantastic loan’ rates or offers. Only apply to a reputable financial institution for a loan, they will never ask you for a 'loan fee'," she said.

"Be very suspicious if there is a deadline to the loan offer. Fraudsters often create a sense of urgency and people may not take the time to check and double check details," she added.

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Giving an example of one recent incident, Sgt Leetch described how a lady, aged in her late thirties, reported that she had applied for a loan of €1,000 through an online company.

"She received a phone call the following day stating that she would have to pay a deposit of €195 to secure the loan. The lady sent the money and has not received the loan to date, this was loan fraud," she said.

According to gardai, the woman who lives in the Castletroy area of the city, did not have sufficient information to assist gardai who are seeking to identify the fraudulent loan company.

Therefore, it is unlikely she will get her money back.