The Davao City Anti-Scam Unit recently released an advisory warning Dabawenyos against advance fee loan scams.
With this kind of scams, fraudsters promise loans, but demand upfront payments for processing, insurance, or other fees.
The Anti-Scam Unit said that these fraudsters or scammers offer loans regardless of bad credit or without any credit check at all. They also demand advance and immediate payment prior to the release of funds.
These scammers also opt for untraceable payment methods including payment through gift cards, wire transfers, or cryptocurrency.
They also guarantee approval or loans without proper checks .
Dabawenyos are reminded to be more vigilant and to always verify the lender’s credentials and licensing. Also avoid paying fees upfront for a loan prior to its release.
Should the person suspect a scam, the Anti-Scam Unit urges the public to report it to local authorities including in their office.
Dabawenyos may contact the Anti-Scam Unit through these numbers: 09282962171 and 09560746942; or call them through 225-6044. CIO
