Summary: The UK Financial Conduct Authority describes loan fee fraud as a scam where a victim pays a fee but never receives the promised loan.
Source
Financial Conduct Authority
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Practical meaning
Borrowers should verify provider identity and licensing, compare full cost, understand repayment consequences and avoid acting under pressure.
Limitations
This summary does not reproduce every legal rule and may not apply outside the source jurisdiction. Use the original source and local regulator for current requirements.