LoginRising risk of loan fee scams
The FCA is warning of the increasing risk of loan fee fraud this Christmas
Posted 14 December 2022 | JoTS Online
Content Tags: Updates|Crime|National
UPDATES: New FCA research warns that fraudsters are increasingly exploiting time pressure and upfront 'loan fee' demands to target vulnerable borrowers, with practical advice on recognising and avoiding these scams.
The rising cost of living means more people face increasing financial stress this Christmas. With the incidence of loan fee fraud – in which a consumer pays a fee for a loan they never receive – already rising, new research from the Financial Conduct Authority (FCA) highlights a heightened risk to vulnerable consumers.
The research reveals the impact of pressure tactics loan scammers empl...
CTSI Member-Only Content
This content can only be accessed by logged-in members of CTSI.
Already a member? Please enter your details below. If your login is successful, the page will automatically refresh and the full content will be visible.
Why join CTSI?
The Chartered Trading Standards Institute (CTSI) is the representative body for UK Trading Standards and Regulatory Compliance professionals - and one of the largest, oldest (est. 1881) and most respected consumer protection organisations in the world.
As a non-profit campaigning organisation (see our Latest Campaigns), our strength, our voice and our ability to influence government, industry and the media, and shape public opinion comes directly from our membership, who are organised in an active network of branches, regions and special interest groups around the country. We are stronger together.
Interested in becoming a Member of CTSI?
Read about our various Membership Options - from Full Membership (qualified Trading Standards professionals) to Associate Membership (consumer protection supporters).
