Isle of Man Government
Reiltys Ellan Vannin
Isle of Man Government Crest


Isle of Man Government Office of Fair Trading

Loan “Scam”

The OFT is warning consumers of a new “scam” which has resulted in a local resident losing a significant amount of money.

The victim contacted the OFT concerning a text message received from someone who said they were from a UK lender offering loans. The victim was seeking a small loan and responded to the text message.

He was advised that the loan had been agreed and that the first repayment which was to be paid via the Moneygram service was due immediately. Further contact took place between the parties. He was then advised that there was a problem with the company’s payment system and he paid a further sum to them in cash at his bank. In the end the loan never materialized but the payments he made were not returned.

Consumers are warned to be suspicious of any sort of unsolicited email, letter or phone call even if they are being offered something that is of interest to them.

If consumers have lost money as a result of any such scams they are urged to cease all contact immediately and contact the local police on 631212.

Anyone who receives a call of this nature can contact the OFT for further advice on 686500.

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