If you're texted by someone offering you loans, don't take them up on one, is the advice from the Isle of Man Office of Fair Trading.
It comes after a local resident contacted OFT staff to say he'd been by swindled by such an offer.
He was seeking a loan, responded to the text, and was told one had been agreed.
He was asked for the first repayment immediately, via Moneygram, and ended up sending more money via it, but the loan itself never materialised.
The payments, however, did come out of his account.
For more advice call the OFT on 686500.