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 the Payday Loans scam:
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.
How to report the Payday Loans scam:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
How to protect yourself more:
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You'll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.
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Week May 26 - June 2, 2016
|1. Compromised Credit Card Scam|
|2. Weight Loss Scam|
|3. Hacker Restriction On Google Scam|
|4. Telephone Line Technician Scam|
|5. Lottery Winner Donation Scam|
Scam Detector Gives Back To The Community
Scam Detector recently partnered with Travel by Dart, an inspirational web-series where two friends blindfoldedly throw a dart at the world map and travel wherever it lands, with the purpose of helping the land or the people. Click HERE or on the image below to watch the trailer of the series!