News release

Peace Regional RCMP issue warning of online loan application scam

April 20, 2026 - Peace River, Alberta
From: Alberta RCMP

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Peace River, Alta. – Peace Regional RCMP are advising the public of scams of online loan application scams that largely target foreign workers. Peace Regional RCMP are currently investigating reports of fraudulent online financial institutions offering loans with unusually low interest rates and fast approvals and claiming to operate across borders.  Once the victim provides personal details, banking information and pays a fee, communication quickly ends leaving the victim without the fee and subject to future identity fraud. 

Warning signs of fraudulent online financial institutions include:

• Interest rates significantly lower than those offered by recognized banks or licensed lenders
• Pressure to act quickly or assurances of “guaranteed approval”
• Requests to move conversations away from official websites to private messaging apps
• Requests for payment before loan funds are released
• Difficulty verifying the lender’s physical office, licensing, or regulatory authorization

Police recommend that before applying for any loan online:

• Verify the lender through official government or financial regulator registries
• Confirm whether the lender is authorized to offer loans in your country
• Be cautious about sharing identification or banking information online
• Avoid sending fees or deposits for “processing,” “insurance,” or “release” of funds
• Talk to a trusted financial advisor, family member, or community organization; 
• If something feels rushed, unclear, or too good to be true, pause and seek advice

If you feel you are a victim of this type of crime you are asked to:

• Save all messages, emails, receipts, and screenshots
• Contact your bank immediately if financial information was shared
• Report the matter to your local police service
• Report to the Canadian Anti-Fraud Centre

If you have information about this crime, please call the Peace Regional RCMP at 780-624-6611 or your local police.  If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8377 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.

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