Fraudulent Online Money Lending - Capital Credit Union

Fraudulent Online Money Lending

Gardai Issue Warning In Relation To Fraudulent Online Money Lending


The Gardai have warned members of the public to be vigilant of unregulated websites offering quick loans to people, after details emerged about an ‘advance fee fraud’.


The websites appear very professional and easy to use. The person completes an online loan application and quickly receives notification that the loan has been ‘approved’. The person will then receive a phone call, which appears to be from an Irish number, outlining that to draw down the loan, an advance fee must be paid. Once the advanced fee is paid, no loan is ever issued and money is lost.


What to look out for


  • The website will claim to offer a fast and easy way to apply for a loan online.
  • Typically, no support documentation will be sought and loan approval will be granted very quickly, without checks on identity or the ability
    to pay
  • The ‘lender’ will ask for a payment of some kind in advance of the loan being given to the applicant
  • The ‘lender’ will not be authorized by the Central Bank of Ireland although it may claim that it is

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