INDIAN RIVER COUNTY, Fla. (CBS12) — The Indian River County Sheriff is warning residents about a new fake loan approval fraud scheme affecting the community.

The Indian River County Sheriff’s Office (IRCSO) said victims reported receiving emails or other forms of communication claiming to have been approved for a loan.

According to officials, the message asks them to call a number and fill out an application that requires sensitive personal information.

Once the victim makes the call, they are told that a $1,000 transfer will be made to their bank account to cover a processing fee.

The fraudster then gains access to the victim’s bank account to initiate the “transfer”, in which they dispute the claim, resulting in the bank offering a temporary credit of $1,000 while they investigate the situation.

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After this, the scammer will instruct the victim to send the $1,000 to a cash app account as a “transaction fee.”

The IRCSO noted that once the bank’s investigation is complete, the victim discovers that he actually owes the bank $1,000.

Officials urge anyone who has been affected by this scam to contact the IRCSO.

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