Loan Fraud | Top 8 Frequent Schemes of 2021

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Credit scammers are constantly inventing new ways to cheat. Finance experts have collected the TOP-8 of the most frequent credit scams and have drawn up instructions on how to protect yourself from fraud.

But first, before going to see the loan fraud I want to inform you that if you want to know any details related to banks like routing numbers, IFSC code, MICR code, SWIFT code, etc then you can get it from wells Fargo routing number.

The content of the article.

  1. Help with a loan from a private broker
  2. False collectors
  3. Cheating on express loans
  4. Additional agreement – and no apartment
  5. Lender breeding defaulters
  6. Wrong payment
  7. Scams with loans via SMS
  8. Imposing non-existent services nine.

Top 8 Ways To Reduce Risks Are:

1. Help with a loan from a private broker.

Perhaps the most common form of credit fraud.

The victim is promised help with a loan even with a bad history, a pile of debts and no job.

Fraudsters use one of two schemes:

  1. Prepayment for services/payment of insurance / other additional costs – after that the swindler can talk for some time that everything is going through, and then disappears from the connection
  2. Data collection – passport and other data or even copies of documents are collected from the victim under the pretext of obtaining a loan.

The second scheme is much more dangerous. Credit fraudsters ask for small amounts – the victim is left with financial losses, but bearable.

The second option allows swindlers to dispose of passport data – including, to issue large enough loans.

How to proceed?

  • Transferred money – use the instructions on how to return funds to the card (link at the end of the article)
  • We have transferred the data – it is advisable to change documents as soon as possible and keep the instructions on what to do if a loan was issued for you.

2. False collectors.

Activated by learning about your debts to the bank.

How information gets into the hands of scammers:

  • Hacking mail, social networks and other communication channels through which your debts were discussed.
  • Open discussion of the issue of debt relief in various forums and platforms.
  • Information on the website of bailiffs (information on large debts is publicly available).

Scammers start terrorizing the victim with calls and threats until they receive the money.

How to proceed?

  • Having received a call from the collectors, demand to name the company and the full name of the employee – the debtor is not obliged to transfer funds “to the grandfather’s village”.
  • Specify what kind of debt and to which creditor you are talking about.
  • Check the specified data on the Internet.
  • If you do not remember such a debt, check your credit history on the NBCH website – perhaps a fraudster has issued a loan in your name.
  • If scammers really call you, write down the numbers and file a report with the police about credit fraud.

3. Express loan scam.

Large stores offer the purchase of goods on credit. It’s fast and convenient. You do not need to go to the bank separately, as a rule, there is an opportunity to apply to several credit institutions).

After making a purchase, scammers get involved in the case.


I have bought a laptop for 50,000 rubles.

  • A man comes up to him and offers to buy it out for 20-25 thousand plus – take it on credit.
  • The victim is left without goods … and with debts, because it is impossible to reissue the loan (even for the assignment of obligations, a whole set of reasons and a bunch of documents are required).

In this case, it is very difficult to even prove credit fraud – you do not know the data of the fraudster, your signatures are on the documents, and the criminals themselves are well aware of the “points” in which they work, and choose places where cameras have “blind spots”.

How to proceed?

  • Ignore any offers of individuals related to loans issued to you
  • Becoming a victim of a scammer, immediately contact the police

4. Additional contract – and no apartment.

A relatively young fraud scheme appeared 3 years ago. Typical for private lenders (with whom it is better, in principle, not to contact).

Among the documents slipped a contract of sale of real estate. The script is designed for retirees who find it easier to distract conversations and slip extra paper for a signature.

How to proceed?

  • Carefully study any documents submitted for signature
  • Apply only to trusted MFIs and banks
  • If you or your loved ones are the victims of such a fraud, immediately go to court to challenge the “deal.”

5. Lender Breeding Defaulters.

  • An organization or private person appears who is ready to “turn a blind eye” to credit history, source of income, age.
  • The borrower receives a loan at an attractive interest rate and is confident that the financial difficulties have passed.
  • After a couple of payments are made, the creditor “disappears”, payments do not reach the “addressee”, returning to the card.
  • After a certain period of time, the borrower receives a subpoena from the court demanding to pay off the debt with frenzied interest on delay.

According to statistics from the Central Bank of the Fed, in just 1 year, from 1.5 to 2 thousand of these “black creditors” are identified.

How to proceed?

  • Hire a lawyer. It is quite easy to prove innocence in court. In addition, in the event of a victory in court, the fraudster will have to pay the legal costs.
  • Do not succumb to the offer “to pay off the debt with a part of the fine to avoid court”, the truth is on your side. This is psychological pressure – the fraudster understands that he has no chance against you, and will do everything to get funds out of court.
  • Before applying for a loan, be sure to check the organization in the register of the Central Bank of the Russian Federation.
  • Under no circumstances take loans from individuals. Apart from the risk of running into a fraudster, the conditions themselves are rarely more favourable than at a bank.

One might argue: “And if the money is needed urgently, and the application is not approved anywhere?”

There are many alternatives, legal and safe options, which we have described in a separate article. Including a poor IC, no official source of income or retirement age.

6. Wrong payment.

There are also fraudulent creditors among the deceivers.

The victim receives an SMS about crediting funds to the account. And the money is really coming in. And after a while, there comes a demand to pay off the debt with high-interest rates.

It turns out that it was a microloan that a dishonest MFO issued for a person and demands to return the money.

If at least a part of the funds was spent, it will be quite difficult to prove the victim’s innocence – the funds appeared “out of nowhere” and the very use of money other than one’s own is already an “attempt at a profit”.

How to proceed?

  • If unknown funds have arrived on your account, immediately contact the bank with a request to return the erroneous payment
  • Be sure to fill out an application in writing – if a fraudulent creditor tries to make a claim, you will have proof that you were not going to use these funds and do not know where they come from
  • Check your credit history and get ready to write a statement to the police – the attackers clearly have not only your passport data but also your account details.

7. Scams with loans via SMS.

Another fraudulent scheme was especially noted in an interview with Dmitry Sorokin, deputy head of the control and methodological department of the investigation department of the UMVD. According to the deputy, scammers have begun to use SMS not only for direct theft of funds but also for credit fraud.

The scenario is similar to theft – the criminals call, introduce themselves as bank employees and, under any pretext, try to pull out the SMS code that comes to the victim’s phone. In fact, this is a code that is sent by remote credit-issuing services to verify identity.

The code is spoken – the fraudster sends it on the site, and the loan is issued. And then the owner of the phone starts receiving calls from the creditor and collectors demanding to pay off the debt.


The situation is relatively simple if only the telephone is used. But in a situation where the criminals managed to take possession of the passport data, they will have to prove their innocence in court. reminds


  • SMS codes from a bank are confidential information that even a bank employee cannot be required to provide.


  1. Imposing non-existent services.


Sometimes even bank employees turn out to be dishonest.


Additional services are imposed on the client (for example, insurance, paid card issuance), but they are not included in the final contract. The fraudster puts the funds in his pocket.


How to proceed?


  • Carefully study the terms of the contract
  • If the amount in the contract does not match with the amount actually paid, file a complaint with the bank’s management


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