Scammers masquerade as legitimate loan providers


LAFAYETTE, Louisiana (KLFY) – Con artists pose as legitimate loan providers.

Reports suggest that bogus lenders guarantee a quick loan with no upfront fees. Victims who provide their banking information to scammers are left in the negative and get their money cheated.

Chris Babin, of the Better Business Bureau of Acadiana, said: “Reports we have received from consumers indicate that they are receiving unsolicited communications from lenders saying they are eligible for loans and varying amounts and that they are receiving unsolicited communications from lenders. need a bunch of information up front and what happens is they give out their credit card and bank account information so they can get the funds they loaned out and what happening is that they lose funds and fall into the hands of crooks. “

Once you’ve accepted the loan, that’s when the crooks step in, taking your personal banking information to deposit the loan into your account via a check. Turns out the loan check is bogus.

“When they deposit it into their account, the so-called lender tells them that they have to take out insurance for the loan and other things, so they send the money somewhere else. Two or three days later, the bank lets them know that the check is not cleared or that the funds they send are long gone. The loan was not real and the financial institution was fake, ”Babin explained.

These scammers use the identity of a business which can easily be verified online. This allows them to gain the trust of their target.

“One of the scariest things about this type of loan is that the crooks use names of reputable financial institutions, so when you search for this institution to find information, it is a reputable institution,” he said. added Babin. “The majority of them are random people who weren’t even necessarily looking for loan types, but they received some type of email, in some cases text messages or even social media posts claiming that they had a great offer on a new loan.

Here are some tips from the Better Business Bureau for avoiding bogus loan offers:

  • Avoid unsolicited loan offers. Scammers use quick money offers to lure you in. Don’t fall for the trap.
  • Expect a credit check. These scams often prey on people who may not easily qualify for a loan.
  • Check the sender’s email address. The domain of the email address is usually the domain of the official website.
  • Research loan providers before accepting an offer. Check out the ratings and reviews to see what other people are saying.

To learn more about Eye on Scams, download our Eye on Scams podcast on 10 Talks Acadiana. It’s available wherever you listen to podcasts.

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