THE Office of Fair Trading is warning people in Swindon not to fall foul of a Canadian credit scam.
Victims have lost thousands of pounds after responding to adverts offering fast loans regardless of credit history.
People who call the freephone number are told their loan has been agreed but before they can have the money they must pay a fee to cover insurance of the loan.
The consumers are asked to pay this advance fee by money order via Western Union or Money Gram.
Once the fee is paid the
consumer never hears from the company again and the loan is never received. Some people have lost as much as £4,000.
John Vickers, Office of Fair Trading chairman, said: "This loan scam is run by professional criminals. Consumers should be wary of any business which requires an advance fee to be paid via Western Union or MoneyGram to secure a loan."
The Office of Fair Trading is working with the authorities in Canada to take action against the fraudsters and is urging consumers who have been contacted in this scam to report it to them by calling 08457 22 44 99 or by emailing: enquiries@oft.gov.uk.
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