Police Issue Warning About Advance Fee Loan Schemes

Thursday September 5th, 2019

Posted at 9:17pm


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The Windsor Police Service Financial Crimes Unit is actively investigating three separate reported frauds in relation to advance fee loans.

In all recently reported incidents, police say that the victims of the frauds began communication on-line, with what is believed to a fraudulent company. The address associated to the company is a Windsor address, making the business appear more legitimate to victims. However, through investigation, the address used in both incidents does not belong to the company. The fraudster will guarantee a loan to the victim and then ask for an upfront fee for the loan, sent through electronic means. Once the fee is received, the victim never receives the promised loan amount and is out the money.

This type of fraud targets individuals who otherwise may have difficulty obtaining cash or credit through other means. Victims are lured by the promise of loans no matter their credit history.

Police are reminding the public that these types of loans are illegal in Ontario and to always do your research on a company, especially when it involves large sums of money. Sending money electronically, especially prior to receiving a service, is extremely risky.

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