Fraudulent credit offers
Scammers come up with fake loans or credit deals to steal your personal or financial information, or to trick you into making upfront payments for loans that don’t exist.
Fraudlent credit offers
Fraudulent credit offers are scams where criminals promise personal loans, credit cards, or other financing, usually targeting individuals who may be in urgent need of money or have difficulty accessing credit.
These offers are often advertised online or sent through emails, texts, or social media, and may misuse the names and logos of legitimate financial institutions.
Victims are typically asked to pay upfront fees for things like “processing,” “insurance,” or “guarantees” but the promised loan or credit is never delivered.
How to avoid it
- Be wary of lenders who ask for money in advance. Legitimate financial institutions do not require upfront payments for loans.
- Verify the lender. Check if they are authorised and registered with the MFSA.
- Avoid offers with vague terms or overly easy approval. Scammers often promise loans with no checks or paperwork.
- Watch for pressure tactics. If someone is pushing you to act quickly or to keep the offer secret, it’s a red flag.
- Never provide personal or banking details to unverified sources.
Remember
If you are asked to pay before receiving a loan or credit, it’s likely a scam. Always research the lender and take your time before committing.