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.
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.
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 –
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.
Fortunately, there are just a handful of steps that you can take to protect yourself from instant personal loan scams –
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.
Subscribe to get the latest news and updates no spam, we promise.