Loan Scams

Lose your money to money-lending imposters who pressure you into sharing personal details or making upfront payment.

How Does It Happen?

Here is how Loan Scams unfold.

Example of a scammer using fake loan ads to trick unsuspecting victims:

1 Scammers often promote these fraudulent activities through ads on websites, social media, emails or text messages.

2 They impersonate trusted money lenders, often sharing “business cards” as sales or financial advisors.

3 They will lure you with offers that seem too good to be true to pressure you to act immediately.

4 Once you have shown interest, the scammer will request for your personal documents to ‘process the financing’ to get you to accidentally disclose your banking details.

5 They might also request for upfront payment (e.g. advance deposit, administrative expenses, fees, etc.) to be paid into an individual/company account.

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