Beware of fraudulent loan company scams
Recent press has shown an increase in the amount of people become victims of fraud when applying for loans. Cases have shown that victims have been lured in by supposed loan firms when searching for loans on the internet. Having believed that they have been successfully approved for a loan, the victims have then had money stolen from their bank accounts.
These fraudulent loan companies often have websites similar to real regulated loan companies, which is part of the trickery used to convince victims that they are dealing with a reputable company.
Hopefully more awareness will ensure that people are less likely to fall prey to the fraudulent loan company scams.
Here are some handy tips to beat loan fraud;
- Never disclose your bank card details. No reputable loan broker or lender will ask you for your bank card details. They may ask you for your bank account details so that if approved for a loan the funds can be deposited into your bank but they should never request you give them your bank card details. Take this as a warning that the ‘company’ is fraudulent.
- Never trust a loan offer based on calls or text. It is extremely unlikely that a lender will contact you offering you a loan via a telephone call or text. Some fraudsters make a living out of obtaining peoples contact details in the hope that the person at the other end of the phone will fall for their antics.
- Research. When looking for a loan it’s imperative that you do your research on the loan company that you’re considering applying with. Using Money Saving Expert or Review Centre can give you a good insight as to whether the company is legit or not.