Peace Regional RCMP are warning the public about a rise in online loan scams, particularly targeting foreign workers.
Police say fraudulent financial institutions are advertising loans with unusually low interest rates and fast approvals, often claiming to operate internationally. Victims are asked to provide personal and banking information and pay upfront fees—but once the payment is made, communication stops, leaving victims out of pocket and at risk of identity fraud.
RCMP highlight several warning signs, including rates far below legitimate lenders, pressure for quick decisions, requests to move conversations to private messaging apps, and demands for payment before funds are released. They also caution that many of these lenders cannot be verified through official channels.
Before applying for any online loan, police urge residents to confirm the lender’s legitimacy through government registries, avoid sharing sensitive information, and never send upfront fees.
Anyone who believes they’ve been targeted should save all records, contact their bank immediately, report the incident to police, and file a report with the Canadian Anti-Fraud Centre.
Anyone with information is asked to contact Peace Regional RCMP.
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