Ardmore police are warning local residents not to fall for internet sites appearing to offer quick cash loans.

"They are scams," said Sgt. Ryan Hunnicutt, APD public information officer. According to Hunnicutt, a number of local residents have reported being victimized by the sites, which promise "no credit check, no collateral loans" totalling thousands of dollars.

The catch?

"All of these sites require a loan fee, ranging from $100 to $200 paid with a Green Dot money card. Green Dot transactions are untraceable and anyone wanting payment with a Green Dot card is trying to scam you," Hunnicutt explained.

Cash net USA, USA Finance, E-Z Finance and EZ Finance are some of the scam sites which promised local victims high-dollar loans would be deposited in their bank accounts within minutes after making their Green Dot loan fee payment. Instead, they lost their hard earned cash and got nothing in return.

And Hunnicutt warns Cash net USA, USA Finance, E-Z Finance and EZ Finance are just a sampling of the numerous legitimate sounding business names scammers are using.

"There are many legitimate looking websites, but they're all fake," he said. "The pressure of holiday gift giving appears to be affecting people's decisions about trying these internet quick cash loans. They should beware of any web based loan offer. Not only is there a high probability it is a scam, it may also be identity theft phishing."

What's the best way to determine if a loan site is a scam?

"Use common sense and the old saying 'If it sounds too good to be true, it is' is a good rule to follow," Hunnicut said.