Loan scam
Loan Scam Awareness
Loan fraud often targets people looking for fast emergency funds. Fraudsters may request an advance fee, ask for identification documents or promise instant approval with no real lender backing. These scams can lead to data theft and financial loss.
Red flags
- Advance payment before a loan is approved
- Pressured decisions with no paperwork
- Requests for bank or UPI details upfront
Safer practice
- Check the lender and documents carefully
- Verify contact numbers directly
- Never send advance fees for a promised loan