The abuse of Social Media by Loan Sharks

Loan sharks are increasingly using social media platforms such as Facebook, Instagram and Snapchat, to advertise their illegal loans and target potential victims.

They use community groups and local selling pages to build up a relationship with their victims, and seem to be a concerned friend offering help in a time of need. If you find yourself in a situation like this, it can sometimes be hard to ignore an offer of help.

How well do you really know the person offering to lend you money?

What have they said about repayments?

'Oh no, we'll talk about that later' is a sure sign that you will regret borrowing money.

IF YOU ARE IN DOUBT, LOG OUT.

Please don't share your personal details online unless you are sure that you are dealing with a legitimate business or company.

For further details and advice contact Stop Loan Sharks on 0300 555 2222 or visit the National Citizens Advice Loan Shark page for further information.