Trick 4- Deception through Fake Customer Support Channels
- Scammers create fake helpline numbers and advertise them online.
- Victims searching for loan support contact these fraudulent customer care representatives.
- Fraudsters extract personal and banking details, claiming they need them to process a loan.
- Instead of approving a loan, scammers steal money from victims’ bank accounts.
4. Loan Fraud via Fake Customer Support (2024)
Steps of the Fraud:
- Creation of Fake Customer Support Profiles:
- Fraudsters set up fake customer support numbers and profiles, presenting themselves as representatives of legitimate financial institutions.
- Engagement with Victims Seeking Loans:
- Individuals seeking loan assistance contacted these fake support channels, believing them to be genuine.
- Collection of Personal and Financial Information:
- Scammers requested sensitive information under the guise of processing loan applications, including bank account details and identification documents.
- Unauthorized Transactions:
- Using the collected information, fraudsters conducted unauthorized transactions, siphoning funds from victims’ accounts.
- Absence of Loan Disbursement:
- Victims, anticipating loan approvals, instead found their accounts compromised and funds stolen, with no loans provided.