Cheap Loan Fraud, Cheap Loans At Low Interest Rates
Sunday, January 3rd, 2010Cheap Loans Fraud. Do Not Disclose Bank Information.
This is a major online fraud threat that has been around for a few months. The email is supposed to come from a ‘reputed’ financial institution. See how the email is a free gmail or hotmail addres, the username is the name of the financial institution. In these slow economic conditions, there are millions of people shopping around for cheap loans. This email is ready to give you a loan at a shockingly low rate of interest, sometimes as low as 3% !!!!
You are asked to give your name and address and bank account details for them to process your cheap loan. A typical online threat but some people might be tempted to ‘give it a try’. After all nothing much would happen as long as you do not part with any money. This is a DANGEROUS attitude, since your identification details including Social Security number, full name and complete bank details will be in the hands of the fraudster.
Once this fraudster sees that you are interested in this deal, he will send you various details and documents that will make you believe that this is a genuine cheap loan offering. After winning your confidence he will get you the ‘good news’. Your loan is passed and you need to pay a processing fee which could be in the 500 U.S$ to 2,000 U.S$ range. Depending on how smart he is and how foolish you our, he might just get that sum from you. And you will end up with nothing except the lost dollars and a string of sleepless nights.
Once again remember that such online threats work on the psychologicy of a person. They are also planned according to the present situation as it is these situations that give us a mindset to try such offers. Pass this information to your friends, business associates and everyone you know. It is only a collective action that will make the online world safer.