Gardaí warn about loan risks

GARDAÍ have warned the public not to be duped by advertisements for illegitimate financial institutions after it emerged people were meeting in areas such as supermarket carparks to arrange loans.

A Garda spokesman said the people would respond to advertisements offering unsecured loans with “keen rates of interest”.

“When contact is made, the “applicants” are asked to deposit money, in cash, with the “lender”,” gardaí said. “The “lender” then made off with this cash, in some cases threatening violence.”