How To Stay Secure From Instant Personal Loan Scams
An instant personal loan is an invaluable tool, especially during financial emergencies, etc. It offers a one-stop solution to our money problems. Unfortunately, people in dire need of financial assistance also tend to be vulnerable.
They often fall easy prey to unscrupulous opportunists looking to take advantage of unwitting victims who urgently need money.
Fortunately, instant personal loan scams are easy to detect if you stay vigilant. They usually demand advance payments, guarantee approvals, and promise no credit check.
They also try to snare unsuspecting loan-seekers by offering very aggressive schemes for a “limited period only.”
Phishing is a form of cybercrime. Hapless victims are contacted via SMS, phone calls, or email.
On the other end of the call, a con-artist poses as a representative of a well-respected institution and manipulates them into giving up confidential information such as passwords, credit cards, and banking details.
Procured information is then used to commit financial crimes and identity theft.
Some of the most common attributes of phishing scams include:
- Irresistible offers:
Almost all phishing scams are preceded by snappy statements and eye-catching imagery tailor-made to grab attention.
It may say that you have won the lottery or an iPhone.
An easy way to avoid falling for such traps is to simply not open such emails.
Creating pressure through urgency: The usual catch behind the exceedingly attractive schemes that phishing scams pitch is that it’s always for a limited period only.
Often, the mail, message, or call will ask you to supply the necessary details within just a few minutes in order to avail of the offer.
Sometimes, it will also be accompanied by threats of suspending your account or relationship with the institution that the fraudsters are pretending to be if you do not do as they say.
- The URLs:
Dishonest instant personal loan lenders often induce gullible online users into clicking on links that will redirect them to a dubious site. An easy way to counter such a move is to hover over the hyperlink. It will instantly show the actual site to which you will be redirected.
Fraudulent sites are invariably a corruption of the site name of a well-known organization. For example, it may say sitibank.com, falsely representing Citi Bank in an effort to dupe unsuspecting visitors.
There is a simple thumb rule for instant personal loan approvals the world over – there are no guarantees.
In fact, those who fight white-collar and financial crimes advocate looking out for tell-tale signs such as words and phrases like “guarantee”, etc. Any instant personal loan lender that promises instant personal loan approval without a debt score, credit score, or history and income check should not be approached in the first place.
Before approving any instant personal loan, a credible lender will always perform due diligence in the form of employment details, income, and credit score. Only after proper vetting of the borrower will an instant personal loan be disbursed by licensed lenders.
No Credit Checks
There is no exception to this rule – registered lenders always carry out a credit check. In fact, they will verify a host of other factors related to you before lending money to you.
So, if there is a lender somewhere that is offering an instant personal loan without credit checks, you can rest assured that you are being taken for a ride.
A secured website will always have the following 2 things –
- A URL that starts with “https” and not “http” (the “s” denotes security).
- Any page that solicits personal information from you will be accompanied by a padlock symbol.
The aforementioned security measures help protect your website from identity theft and other forms of online criminal activity.
The lack of these security measures with any instant personal loan lender’s website should be an immediate cause of alarm. For one, it shows a complete disregard for safety protocols, especially when the product or service you’re offering is money.
There may also be a sinister aspect to this seeming indifference to online safety. Dishonest instant personal loan lenders often sabotage their own digital security on purpose so that their customers fall easy prey to online criminals.
When a reputable instant personal loan lender installs these security measures, it becomes difficult for unscrupulous digital operators to breach your confidential information. It also builds trust in the relationship between the instant personal loan lender and its customers.
Protection From Instant Personal Loan Scams
Fortunately, there are just a handful of steps that you can take to protect yourself from instant personal loan scams –
The simplest and the best way to protect yourself from phishing is to only open or respond to a communication from sources you are intimately familiar with.
That being said, it is not always possible to restrict oneself to trustworthy sources. If you have to open an unsolicited mail, make sure that you do not click on any link within it. Do not download or open any attachments either.
Legitimate organizations, agencies, or companies never ask for sensitive information on pop-up screens. If you are being asked to do so, you’re being swindled.
Phishing filters are also very effective against unwanted emails and messages. They can be installed in both your browser and mail inbox. While these measures are not full-proof, they do provide optimum protection.
- Guaranteed approval and no credit-checks:
The easiest way out is also the safest way. Simply do not respond or reach out for an instant personal loan to lenders who espouse these services.
The same advice goes for unsecured websites. It is better to stay away from unsafe business practices than to be sorry after.
At mPokket, we treasure the trust that our customers put in us. This is why our safety and security measures are the best in the instant personal loan app business.
When you share your personal details with us, we ensure that it never falls into the wrong hands. mPokket offers world-class protection against instant personal loan online scams. Our systems are state-of-the-art so you know that your confidential and sensitive information is in safe hands.