A police spokesperson said: "There are many proper and reputable companies that can assist people with valid PPI claims or those looking for loans, and customers would be well advised to seek relevant professional financial advice at the outset."
Anyone who is asked to make an upfront payment before a PPI claim can be made should refuse the offer and contact police so they can investigate the matter.
Reputable companies will never ask for a payment before providing such a service, and anyone who suspects they may have been contacted by a fake PPI company should take every precaution possible to ensure the company is legitimate.
Payment protection claims have increased dramatically in the last few years after it was revealed many banks had been offering the insurance to customers who would not be able to benefit from it.
People who were self-employed, unemployed or on a low income are all groups who may have been mis sold PPI.
Reputable PPI claims firms can help people recoup thousands of pounds for their bank and will be able to guide customers through every stage of the process.
Many act on a no-win, no-fee basis meaning that people will not be left out of pocket should their attempt to reclaim PPI fails.
The potential to reclaim this amount of money may be of interest to anyone who feels they are in need of debt advice (http://www.connectedclaims.com/debt-advice/), because PPI is related to products such as personal loans and credit cards.
People who feel they have been mis sold PPI should contact reputable PPI company as this could help them get back money which should have never been taken from them in the first place.