Announcements
The easy loan scam begins with a phone call, email or social media ad in which a fake bank or finance professional offers cheap interest rates and favorable conditions in exchange for quick cash deposits.
Convenient financing can be attractive, but customers should be aware of the potential risks.
Announcements
Learn how to protect yourself from loan fraud.
Read also: Loan My Everything: Online credit with the lowest rate on the market!
Announcements
Examples of easy loan scams on the internet
Payroll loan fraud (criminals):
This scam mainly targets the elderly and government employees.
Just a reminder: a payroll loan is a loan with lower interest rates because it is taken directly from the borrower's paycheck.
In this scam, the thieves collect the victim's personal information, such as name, address and CPF, and apply for a loan at a financial institution in their name.
This information can be obtained through popular scams such as phishing and smishing, as well as data dumps.
As soon as the money is deposited into the victim's account, the scammer contacts them, posing as a bank representative, claims there has been an error and asks for a refund by Pix or bank transfer.
When the transfer is made, the victim sends the funds directly to the scammer's account and receives a loan in return.
When the bank starts deducting the loan payments from the victim's paycheck, it's too late to recover the funds.
Payroll loans (institutions):
In this variation, the financial institutions themselves perpetrate payroll loan fraud.
The corporation grants the credit without the permission of the pensioner or public figure.
As a result, the institution gains from charging interest, and the victim must go to court to end the process.
Investment loan scam:
In a variant of the loan scam, the crooks encourage victims to take out loans from banks in order to invest the funds in high-yield ventures.
The Rio de Janeiro police have arrested a group that specializes in carrying out these scams against military personnel and civil servants.
The robbers promised to pay the installments of the payroll loan, invest the funds and return the initial amount plus 10% in interest.
Initially, insurance compensation was given to the victims.
The plan resembled a financial pyramid in which deposits from new victims were used to pay off the original victims.
After a while, the crooks stopped making loan payments and disappeared with the funds.
How to avoid falling victim to loan scammers
Now that you understand the loan scam, let's discuss how to protect yourself from this danger. Determine the most important ones.
Beware of credit offers:
Firstly, be wary of any credit offer that seems too good to be true, i.e. with an interest rate below the market average and a long payment period.
If you have a tarnished reputation, you should increase your vigilance, as fraudsters prefer bad people at credit agencies.
If you are unsure about the legitimacy of a credit offer, contact the financial institution immediately.
Of course, you should never believe an attendant simply because they have the corporate logo on their WhatsApp profile or are calling from a supposed contact center.
Never pay in advance:
All loan scams are centered on the demand for advance payments in order to release the money.
This does not exist anywhere and is strictly forbidden.
Therefore, under no circumstances should you "advance" any money to earn a credit.
Protect your personal data:
Many scams begin by acquiring the victim's personal information, which can be used to obtain an illegal loan or research the target further.
To prevent your personal information from falling into the hands of criminals, be careful before disclosing it and make sure that the organizations with which you are registered comply with the General Data Protection Regulation (LGPD).
Enable two-factor authentication on email, WhatsApp, social networks and online retailers to prevent account hacking and cloning.
Don't discuss loans on public social networks.
Scammers often scour social media in search of material that can help them convince their victims.
In Facebook finance groups, for example, many individuals reveal information such as the amount of their debt and the amount of the loan they need.
Obviously, there are a number of scammers joining these communities and monitoring this data to create an attractive offer.
Don't worry about overdue debts:
Finally, it is essential not to despair over delays, as this can make you more susceptible to loan scams.
You can negotiate with creditors, seek payment agreements or even take out a single loan with a reasonable interest rate to pay off all obligations, regardless of the complexity of the case.
If you act recklessly, you could fall victim to fraud and lose a lot more money.
