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Online Loan Frauds

The internet is an artefact created for communication purposes. Information is exchanged from time to time through the use of the internet. It is mainly used for transferring and accessing data from different destinations. It can also be used for conducting various transactions of different users. The internet has become a very useful application to modern life. So much so that it became the main part of different kinds of organisations, including businesses and consumers.

The internet serves its significance to a lot of people, but like anything else, the internet also has its disadvantages. A lot of people try to take advantage of others using the internet by performing inflictive activities, such as scamming.

Scams are widely spread through the internet, a lot of users try to advertise fraud products and services to attract potential customers that will consume the promoted merchandise. Once they caught the attention of a customer, apparently a potential victim, they will do a lot of convincing sales talk, most are too good to be true, to convince the victim to purchase whatever they offer. Once the victim became convince and decides to purchase the offered merchandise this is where they will convince the person to give down a certain fee, usually a so-called down payment in order to process what has been sold. When the poor victim fell down for the offer, this is where they will disconnect themselves (the scammers) to the victim. As a result, the money that was given was considered stolen.

United cash loan – a fraud lending website

There are fraud lenders that will steal money from borrowers that bite their bait. One of the well-known scamming companies is united cash loans, located somewhere in the USA. This fraud money-lending company became exposed and known due to the fact that they have scammed a lot of people. The sum of the funds that they have stolen reach up to millions of dollars. Victims stated that the company offered very convincing compensations to get their interest and bite into the bait. They discuss convincing offers to the potential victims such as approving one’s application even if unemployed.

A maximum of $9000 that can be paid in a small amount in a long period of time. Once the victim’s decided to get the loan they will ask for an initial payment to process the loan. This is a false promise to deduct the amount to the repayment fee.Some victims say that an agent of the said company will randomly call you. They say that you have consumed a loan from them that hasn’t been paid for a long time. Then they will insist you to pay for the amount to avoid further charges. Some will offer you a great promo, or so a victim may think. They will tell you to purchase a certain application through an application market such as iTunes. The following strategies are the examples of their way to scam people over the internet.

Due to a lot of people who stated feedback and complaints to a united cash loan, they became exposed. Now they are known as one of the fraud lenders. So people became aware of their proven reputation. A lot of people are now suing the corporation due to its fraudulent activities.

What to learn from all this

So when you are planning to get a loan online, make sure that you do a rigorous checking to the site. Here are some useful tips to know whether a lending site is a fraud:

The user interface is suspicious, typically a lack of design quality. Even though frauds put time and effort in designing their sites in order to convince viewers, there are still features of it that differ from authentic lenders. Examples are an improper sequence of the user interface and lack of design details.
Check for accurate details. If you find the information held on the said website is tedious and have some wrong grammar and spellings, this site could possibly be offering fraud merchandises.
Offers too good to be true compensations. The way of scammers to attract victims is to offer too good to be true compensations. If you find their services to be really amazing, you should think twice if you still want to proceed your application.

Asking for the initial payment. If the lending site asks for initial payments due to some reasons like processing fees or advances payment, you better back out the application. It’s possible that it is a scam.
They require you to purchase a specific merchandise. If they ask you to purchase a product over the internet using your bank account for proof of authenticity, it is most likely that the lending site is a scam.

At Money Bolt, we are here to make sure that you don’t succumb to fraudulent actively like so many others have. All of our partner lenders are FCA approved and all of our services are completely free. Our dedicated expert team is always on hand to help you with anything you may need.

Scam Alert – Beware of impersonators, we will NEVER EVER ask for upfront payments, transfer fees or vouchers to guarantee a loan