How the scam works:
(with video below) Criminals claim to be the reps of companies that offers payday loans, which are paycheck advances of cash with a short-term payback.
Most of the callers identify themselves as attorneys for the loan company. They obtain credit card information, dates of birth, confidential telephone numbers and other personal information, and then proceed to victimize the residents. Even worse, they threaten the victims with blackmailing if they don't receive the amount.
Watch the video below to see in action the Payday Loan Scam exposed:
Payday Loan Scam in the News Video
How to avoid:
Try to stay away from business pitched over the phone, especially if they are payday loans. Do not respond to their threats. Ignore them and inform the Police or the closest law enforcement agencies. Feel free to post below the names of the scammers, if you were contacted. If you want to borrow money from payday loans agencies, use only reputable companies. You can also report the scam on this page: Federal Trade Commission Report.
Make your friends and family aware of this scam by sharing it, using the buttons provided.
Week February 1-7, 2016
|1. Interest Rate Scam|
|2. Home Renovations Scam|
|3. Jam Auction Scam|
|4. Hair Growth Scam|
|5. Dry-Cleaning Bill Scam|
|6. Wedding Planner Scam|
|7. E-Mail Processing Job Scam|
|8. PayPal Verification Scam|
|9. Green Card Lottery Scam|
|10. Online Dating Meals Scam|
Scam Detector Gives Back To The Community
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