Fraudsters are conning people out of thousands of pounds by offering them instant loans and getting them to pay a processing fee with an Apple iTunes gift card. Fake loan companies are cold-calling people saying that they have been pre-approved for a loan. If a victim agrees to the loan, they are told that to receive it they need to make an administration payment of £25 using an iTunes gift card. A loan agreement is sent via email, after which further payments in iTunes vouchers are requested for insurances and tax, which they are told will be refunded when the loan comes through. Once victims have handed over the iTunes voucher number, they are told…

Source: The Times February 02, 2018 23:48 UTC