Trick 2-Impersonation and Upfront Fee Scam
- Scammers pose as bank officials and offer pre-approved loans with attractive terms.
- They issue fake sanction letters with forged bank logos and signatures.
- Victims are asked to pay upfront fees for processing, taxes, or insurance before loan disbursement.
- Once the payment is made, the fraudsters disappear, and the victim never receives the loan.
2. Fake Loan Sanction Letters (2024)
Steps of the Fraud:
- Impersonation of Bank Officials:
- Scammers contacted individuals, posing as representatives from reputable banks, offering pre-approved loans.
- Issuance of Fake Sanction Letters:
- They provided counterfeit loan sanction letters, complete with forged bank logos and official signatures, to gain victims’ trust.
- Demand for Processing Fees:
- Victims were asked to pay upfront processing fees, insurance, or taxes to facilitate the loan disbursement.
- Collection of Payments:
- Believing the loans were legitimate, victims transferred the requested amounts to accounts controlled by the fraudsters.
- Disappearance of Fraudsters:
- After receiving the payments, the scammers ceased all communication, leaving victims without the promised loans and out of pocket for the fees paid.