Avoid Scams in the Short-term Loan Industry

With more and more short-term loans requests being processed online, it comes as no surprise that scammers are around every corner waiting for their opportunities. The information found here will help consumers better understand how these scammers work and how to best avoid them.

Information Harvesting

Information harvesting is a process by which fraudsters use multiple methods to obtain consumer information such as their bank account numbers, Social Security numbers and more. This information may be used to purchase products, apply for credit cards or even commit identity theft. In the short-term loan industry, this typically happens when consumers are conned into providing their personal information to non-reliable sources in hopes of obtaining larger loans or lower interest rates. To avoid it, consumers should never provide any of their sensitive information to a source that is not directly accessed through fast1500.money.

Fake Debt Collection

Another way in which scammers are swindling consumers out of their hard earned money involves attempts to collect fake debts. These are typically simple to spot as the calling party will claim to be a representative of fast1500.money and demand that an unpaid debt be repaid immediately. Consumers should always remember that lender pairing services like fast1500.money are not lenders, and therefore we will never contact our customers to collect a debt. Anyone who receives a debt collection call of this nature should collect as much information as possible and report the call immediately.

Phishing and Identity Theft

One of the most technical ways in which con artists work to get information from consumers is through a process known as phishing. This typically involves the development of duplicate websites that are listed under a highly similar domain name. This is done in the hopes that the consumer visiting the domain name will not notice the slight difference in spelling and will continue to provide his or her information. However, instead of this information being submitted to a network of lenders, it is being provided to a host of scam artists who want to commit identity theft. To prevent this, always ensure that the domain name in the browser window is spelled correctly.

By remembering this information and staying alert and aware at all times, consumers can more easily protect themselves from fraudulent activity and scams. Fast1500.money has listed multiple agencies that can provide more information about these scams as well as a Scam Report page for consumer education.