What is a Scam?
A scam is designed to trick you into giving away your money, personal details or data by offering an attractive deal or false information.
See Types of Scams
ScamAlert Advisor | 14 May 2019
Some of us have experienced what it’s like to be in a tight financial spot, and some have considered borrowing from friends or taking a loan out from our banks to solve our financial problem.
Some may even be tempted to respond to “moneylending companies” that advertise their services via suspicious phone calls, messaging platforms or social media. These “companies” offer very attractive interest rates, no contract requirements and no credit checks. All they need is down payment upfront… sounds like something too good to be true? Yes, it is.
If you require a loan, always remember that licensed moneylenders are NOT allowed to advertise their services via WhatsApp, SMSes, and social media. If you receive such an advertisement, do NOT respond as it’s most likely to be from a scammer or an unlicensed moneylender (loan shark).
Please note that a licensed moneylender should be registered with the Ministry of Law. Check the list out here: List of Licensed Moneylenders
#fightscams #jointhefight #phishingscam
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