12 Frauds of Christmas Day 5- Loan and investment scams There is an increase in online loan applications at this time of year as people seek to cover the costs of the festive period. Fraudsters will exploit this opportunity by intercepting applications to legitimate lenders or by creating their own bogus company websites. You may also be tempted to put your money into an investment scheme which promises high returns and low/no risk. Top tips to protect yourself • Authentic loan providers will not ask for an advance fee. If they ask for an advance fee just say no. • Research any loan or investment companies online before making any financial commitment. Also make sure to read the terms and conditions. • If the loan or investment opportunity seems too good to be true, it probably is. • Never set up a loan or make an investment which starts with a cold-call. Always better to just hang-up. • Go to fca.org.uk for a list of unauthorised firms and top tips on how to avoid dodgy investments.
Posted on: Thu, 04 Dec 2014 11:02:51 +0000
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