Just when you think you’ve heard it all.

Toronto Police fraud cops are warning residents of an escalating “loan processor” online job application scam that is making the rounds.

Detectives from 51 Division say a victim is hired from an online search to work as a “loan processor.”

“The victim is instructed to attend several addresses in the City of Toronto to pick up cheques from mailboxes before depositing them,” officers warn.

Police say the victim is “then instructed to withdraw cash for their own account and meet people who are purporting to need loans.”

“The cash is handed over to the fake clients or the victim is instructed to send e-transfers to them,” said Det. Const. Elliott Lee.

Lee said in both scenarios, the cheques that have been deposited are not honoured and person whom they handed over cash as a loan is long gone.

“The victim is ultimately left in financial debt,” he said.

Police are reminding the public to remain vigilant, especially during these uncertain times. It is best to thoroughly research any prospective employers and question activities that require dealing with quantities of money, especially in unusual circumstances.
Anyone with information in relation to this type of fraud is asked to contact Lee at 416-808-5179.
Details can also be phoned to police at 416-808-5100, Crime Stoppers anonymously at 416-222-TIPS (8477), online at www.222tips.com, online on our Facebook Leave a Tip page, or text TOR and your message to CRIMES (274637).