The Economic and Financial Crimes Commission has advised the public to beware of loan scammers and check properly before seeking loan from a company.
The advice was given during a recent ‘EFCC Connect’, a Twitter discussion by Hauwa Modu Maina, an officer of the Abuja Zonal Command.
She revealed that many people had fallen victim to loan scams because of not doing their due diligence before taking the loans.
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Maina explained that “Loan Scam is any loan offered under false pretence. Locally, there are loan scams that could be charity scams, government imposter scams, fake cheque scams, debit scams, advance fee loan scams, and so on.
She said there are also “Loan Sharks” who give loans but make conditions for repayment difficult, and would go to any length to recover the loan. Maina described this category of loan companies as “scammers.”
She said on social media like Facebook, it’s common to come across a loan advert asking you to apply. “They’ll first ask you to download. They’ll ask you to fill in your personal and financial details, and all of a sudden, you’re not seeing money in your account but withdrawals and deductions and uncensored charges.
“When they ask you to fill in your BVN, IPPS, card verification codes that 3 letter code at the back of your ATM card, PINs and other personal information, just know that you’ve given out your financial and personal details, and they can make away with whatever they can in your account.”
Also, you could be asked to download the loan app, and register to obtain a certain amount of money for a period of time at an outrageous interest rate.
“But immediately you get the loan, maybe there’s a mistake, there’s a confusion going on between you paying your loan and not paying, and all of a sudden you start receiving threats going as far as labelling you scam on social media.
“The third scenario, you’ve collected a loan and even paid on the due date but still receiving debit alerts, they will come up with a situation that you have to pay liquidation fee and so on all just to rip you of your hard-earned money. “
I most commend your well done job also I just saw the article you wrote about the loans sharks the way they are using the presence condition of the country to body shame and threatened there customers.
Also I most commend the Good work fccpc is doing on behalf of the less privileged in our society.
I know of a woman that stays in my area in Songo Ota,I use to buy provisions from her store, 3weeks ago she was body shame/death threantend by one of this online loan name (CYCLE CASH LOAN)
According to her,She collected some money and she was meant to pay the sum of 9 thousand naira after 7days,but on the 6th day a girl name bunmi start calling her and told her she need to pay the money,
According to her she told the lady from cycle cash loan that her due date is the next day making 7th day but she said the lady start shouting at her,that on the 7th day around 8:30am she called her to ask if she as pay the money and she told her she will pay that same day.
That she was even explaining to her that she is pregnant that she will pay before 4pm,that the Bunmi girl from cycle cash loan told her that if she did not pay before 12pm that she and her baby will DIE,I lent she was using abusive words,threantend the family that the pregnant woman will die,dis are not meant to happen in our society.
When I got to her shop in the evening,I saw people at the woman shop,because I lent she fainted and was rush to the hospital,I was the one that give the husband the sum of 10k to pay for the loan.sir this need to be stop in our society because this as cost a lot of damage and the online loan are using the medium to body shame the less privileges
And the federal government need to do something fast about it.
Sir/Ma
the lady(Bunmi) should be as a scape goat to other online APP(07064400275 BUNMI FROM CYCLE CASH LOAN)She is the one sending death threatened messages and using abusing words on people because the woman husband told me that she keep calling people on her contacts and started causing and threatening them.they also use this lines too.(08124507023,07042419220).