'Vigilance and healthy dose of scepticism' are best defence against loan scams

International law firm RPC warns individuals and businesses there is 'unlikely any recourse' for victims of new online fraud

Commenting on the warning issued by Lloyd's Bank over online loan scams, partner Richard Breavington, Head of RPC’s Cyber and Tech Insurance team, said:

"With contact details for so many readily available to fraudsters, scam communications are now a fact of life for everyone.  

"It is important to be wary of any unsolicited emails that ask for any personal data or financial information, particularly if that leads to payment requests.  

"The amounts involved mean that realistically there is unlikely to be any recourse for those who fall victim to these types of scan. 

"The best defence is vigilance and a healthy dose of scepticism for any communications, particularly from an untrusted source."