Skip to content
16.1 °Cforecast >
Cloudy

Officials warn of new scam in the Guelph area

The best way to prevent yourself from becoming a victim of this scheme is to do some research
0
Scam
Stock image

NEWS RELEASE
GUELPH POLICE SERVICE
*************************
The Guelph Police Service Fraud Unit would like everyone to be aware of a fraud scheme that is active in Guelph called Advance Fee Scam.

The victim in this fraud scheme is usually someone that has a poor credit rating. Due to the fact they are unable to get a loan from a traditional financial institution, they revert to the internet and begin to find independent loan companies. During their search, they may come across a company that offers a hard to beat interest rate for any loans. The victim willl register by filling out an "application" and will immediately be approved for a loan. At the end of the registration, the loan company will ask for an upfront fee to initiate the loan. This fee can range from $500 to $2,000 depending on how much the person would like to borrow. The victim pays the fee via e-transfer and never hears from the loan company again.

The best way to prevent yourself from becoming a victim of this scheme is to do some research. Contact the Better Business Bureau or Ministry of Consumer Services (Consumer Protection) to confirm the business you are dealing with is legitimate. Always remember, if it seems too good to be true, it probably is.

If you have become a victim of fraud, please contact the Canadian Anti-Fraud Centre by email at info@antifraudcentre.ca or call 1-888-495-8501 to report it.

Better Business Bureau: 1-800-459-8875 or www.bbb.org

Ministry of Consumer Services (Consumer Protection): 1-800-889-9768 or www.sse.gove.on.ca/mcs/en

*************************

 




Comments