The Financial Conduct Authority (FCA) is warning the public about a surge in loan fee fraud (aka advance loan fee fraud).

This type of fraud scams borrowers into paying an upfront fee for a loan they then don’t receive, with losses averaging £260 per person.

https://www.yourmoney.com/credit-cards-loans/loan-fee-fraud-on-the-rise-how-you-can-avoid-the-scam-of-the-summer/