Identify and Avoid Loan Scams: Here’s How

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Loan scams are rampant everywhere. These may involve payment of fees for a loan that “lenders” promise to grant, but result in fraud or taking something from you either in the form of cash or personal information in the end. But no matter how much you warn people about loan scams, a significant number of people still fall prey to this fraudulent act. And the reason is quite simple: people dealing with money problems can easily get swayed by all kinds of deals. Further, since many loan scams transpire online nowadays, Malaysians are dubbed to be the most vulnerable to being victimized. A survey made found that almost 50 percent of the respondents have had a history of getting tricked by fraudulent practices on the internet. In the Philippines, economic and cyber crimes are prevalent, too—with reports saying that the country ranked seventh as the most attacked country on the mobile platform. Despite the bleak scenario, there are signs that give away that you may be dealing with … [Read more...]