29/07/2024
🤳🏻📲🤚POSTING FOR AWARENESS🎯🎯🎯
How the Social Media Loan Scam Works
✅UNSOLICITED LOAN OFFERS- fraudsters create website to well-known lending businesses. Unsuspecting person use these websites to apply for loans.
✅COMMUNICATIONS - Once the victim establishes interest for the loan he/she is the encouraged to communicate via WHATSAPP contact or an email address with a variation of legitimate name of the lending business.
✅REQUEST FOR DOCUMENTS AND PERSONAL INFORMATION- Scammers may ask for personal information and documentation whick are usually required for processing loan applications such as job letters, payslips, identification, bank account details, etc.
✅REQUEST FOR UPRONT FEES- The fraudsters then inform the victim that the loan was approved, however payment of upront fees (ranging from 2000-5000hkd) is requested claiming that these fees are necessary for application processing.
✅THIRD PARTY ACCOUNT NUMBER- A personal account number from a local financial institution is provided to the victim to facilitate the deposit of fees.
✅THE DISAPPEARING ACT- Once the victim pays the fees , the fraudster either request more fees or disapper, leaving the victim without the promised loan and out of pocket.
🎯🎯Maging mapanuri! Huwag agad maniwala! Huwag ipamigay ang pinaghirapang pera sa mga SCAMMERS!!
