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7 June 2012, 13:12
People in Suffolk are being warned by police about online loans because many websites are cheating people out of money.
Some websites offering loans ask for money upfront to cover what they call admin fees, tax protection or payment protection. They may also ask for payment through UKash vouchers or Pay Point vouchers.
Suffolk Constabulary are urging people to be wary. No legitimate loan provider will ask for money upfront. Payment vouchers can also be difficult to trace for police, making prosecutions and compensation very difficult.
DS Panicos Monk said: "We're urging people to be sensible and look for these warning signs when applying for loans online.
"It's best to do some research into the company before using them. Many postal addresses can turn out to be false when you put them into a search engine for example, and some people may have already come across the company and posted about them online.
"These so-called 'companies' regularly change their name and can disappear overnight."
A woman from Lowestoft recently lost over £700 to a scam before reporting the incident to police.
If you think you are a victim to this contact Suffolk Police on 101.