To avoid becoming a victim of a scam it is important to know how to identify fraudulent loans and fake online lenders. The increase of illegal loans has grown in recent months and it is better to be forewarned.
Surely you have seen on the internet and social networks private companies and individuals offering loans for practically nothing.
These types of loans that they claim to advertise have very few conditions; they offer them to people in need of money and take advantage of their economic desperation.
Before applying for any financial service, it is essential to think twice and seek information about the reliability of the company.
The Internet greatly facilitates this search and allows us to know how reliable and secure the entity is.
How to Identify Loan Fraud
Criminals take advantage of many people’s need for money, and offer loans and credit that are actually fraud.
Search for information on comparison sites
Fake online lenders do not advertise on comparison sites.
But reputable and safe companies do advertise their services through affiliate networks so that comparators like us, Financer España, can promote the nature of their services.
Reliable companies offer quality services and can advertise on comparators because they do not know that their method of financing is legal and safe.
Financer España is a web portal that compares financial products, we are not a financial institution nor do we offer loans directly.
We offer information about the different reliable financial institutions and their products. Through our website you are redirected to the secure website of the entity so you can apply for the loan.
All the companies that we advertise in Financer comply with the laws in force and with the data protection law, we do not advertise illegal or fraudulent companies.
Check that the website is secure
One way to know that you are visiting a secure website is through the URL.
If the URL starts with HTTPS then it is a secure site but if it does not include the last S (i.e. it is HTTP), then be suspicious.
Secure financial institutions comply with security protocols that ensure the security of user data and whose information is encrypted.
In addition in the URL must appear a padlock and indicate that it is a secure site and therefore has the SSL certificate (Secure Socket Layer), this guarantees the authenticity and reliability of the web.
Check that all the links and buttons on the page work correctly, if not it could be a clear sign that the site has been cloned.
Read comments from other users, search on social networks and forums.
This advice is highly recommended, this way you can know if the service offered by the company or entity is of quality and if there have been customers who have had problems and how they have solved the problems.
However, you must keep in mind that there will always be negative comments from companies; practically no company offers a service that is 100% satisfactory for all customers, especially when the companies have millions of customers.
You will always find negative comments but you have to assess why they commented negatively and how many negative comments there are.
Social networks and forums will be your best weapon to know if it is a fraudulent company. Look for information about the company, opinions and investigate who is behind it.
Ask in forums about the company to make sure you will not be a victim of online scams.
If they ask for a cash advance, it’s fraud.
Although it may seem logical to some, many people have fallen into this trap.
Private companies like QvCredit SG offer quick financing, but first a deposit or advance must be made.
These illegal companies abuse the inexperience and desperation of the users who, after making the advance payment, never receive the loan money and never hear anything more from the phantom company.
If an entity requests an advance payment for a loan through Western Union, it is a clear indication of fraud.
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