Are you worried about being lonely this Christmas?

Here’s an important message if you’re planning on using online dating sites to meet that someone special. 

We’ve been made aware of the number of loan sharks that are now using online dating sites to target women in the area and so Wave Community Bank are working alongside the Illegal Money Lending Team (IMLT) to help raise awareness of this illicit activity. Impersonating possible love interests, loan sharks are now offering to lend women money which may seem harmless at first but when it’s impossible to meet their demands, they can become intimidating and, in some worse case scenarios, show threating behaviour.

Loan sharks have been working in the area for a while but what is new is how they are taking advantage of online networking sites and, in particular, dating sites, in an effort to target women that have become more isolated and detached over lockdown.

Part of this campaign is to educate women on how loan sharks have taken to use dating sites and some of the lines that they may use including ‘I can help you to buy your Christmas presents or ‘just pay us back next week’. 

If you find yourself in a situation where you need to borrow money then here’s some guidance on how to avoid a loan shark:

• Make sure that you have paperwork so that you know who you are borrowing money from and you are clear on the amounts to pay back and the terms and conditions of the loan, including the interest rate.
• Only borrow money from a company that is regulated by the Financial Conduct Authority (you should see this on the paperwork).
• Do your affordability check so that you know what you can afford to pay back. Never get into too much debt.

Loan sharks are just normal-looking people who are using online tools to target women who are particularly lonely this time of year. They can be difficult to spot, but please do help and share this post to get this important message out to as many women as possible.

Always borrow from a certified and regulated lender, don’t be caught out this Christmas! If you need to borrow money for Christmas, then you can apply for a loan with us here. We are an ethical, regulated lender you can trust.

Beware of who you’re talking to on dating sites… they could be a loan shark 🦈.

You can report a loan shark anonymously through the Stop Loan Sharks website or by calling  0300 555 2222. 

@wavecommunitybankBeware of who you’re talking to on dating sites… they could be a loan shark 🦈 ##bankonWave ##stoploansharks ##creditunion ##foryoupage ##fyp♬ Bubble – Official Sound Studio