RCMP warning of scam-loan sites

RCMP detachment (Troy Landreville, Vista Radio staff)
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NT RCMP released a statement April 28th warning residents of an increase of reporting to the Canadian Anti-Fraud Centre (CAFC) of scams related to fraudulent loan websites.

According to the RCMP a recent bulletin states that fraudsters are using financial hardship many Canadians are facing during this pandemic to extort personal information through fake loan websites.

The CAFC reports that these loan websites are designed to look like legitimate lending institutions.

  • Fraudulent loan applications are used to collect personal information, 
    • which can result in identity theft and fraud. 
  • Once quickly approved, the fraudsters will request a fee to secure the loan. 
  • The victim never receives any money.

To better secure yourself and those around RCMP released the following tips;

  • In most provinces and territories, it is illegal for a company to request an upfront fee before you receive your loan. 
    • You should never send money first.
  • Beware of companies that offer guaranteed loans; 
    • even if you have bad credit or no credit.
  • Beware of instant approvals.
  • Do your research before you provide your personal information.
  • Contact your provincial/territorial consumer protection agency and/or financial regulator to confirm that a company is a legitimate lender.
  • End all contact if the company requests payment by email money transfer, money service businesses or prepaid credit cards

For more about loan scams; https://antifraudcentre-centreantifraude.ca/scams-fraudes/loan-pret-eng.htm

 If you think you or someone you know has been a victim of fraud, please contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or report online at www.antifraudcentre.ca. Or reach out to your local RCMP detachment.

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