Businessman lost thousands in UK bank loan scam

A businessman from Lower Austria who wanted to take out a loan online has been conned out of 51,000 Euros.

The Lower Austrian was drawn in by a tempting offer made by the fraudsters based in the UK.

They promised the man a quick and easy loan of a million Euros on the condition that he paid all the supposed insurance and processing fees in advance.

The man complied and transferred the sum of 51,000 Euro to an account in the UK.

The man then saw nothing of the loan he had been promised, even though the transaction was confirmed via email.

Regional Police in Lower Austria have advised caution in regard to loan and stock offers for large amounts of money.

They say that in general, people should avoid dubious internet contacts who advertise cheap offers for loans and shares although they may be tempting.

People can also reduce the risk of being cheated by arranging to meet with the contact in person to check their validity.