- ob体育 is aware of people pretending to be a legitimate lender (e.g. banks, credit unions) and offering fake loans to Australian consumers. This usually occurs after the consumer completes an online enquiry form expressing interest in a loan.
- Be wary of unexpected calls, SMSs or emails offering loans that ask for personal information.
- Avoid loan offers that have upfront fees for 鈥榠nsurance鈥� or 鈥榯ax鈥�.
Examples of how fake loan offers work
ob体育 is aware of scammers using a number of tactics to offer fake loans to Australians. Scams can take place when someone contacts you by email or text saying you are approved for a loan and asks you for your personal information. Other scams use an online loan enquiry form, send you a loan offer and ask for more personal information.
Below are some examples of common tactics used by scammers:
- The 鈥榣ender鈥� is using an email account with a free provider (such as Gmail or Outlook). Legitimate lenders are unlikely to use free email providers.
- The lender doesn鈥檛 have a website.
- You are asked to make a payment for some sort of insurance or tax before they can release the loan funds.
- An invoice asks for you to make payment by direct deposit into a bank account in the name of a person (not the name of the lender).
- Requesting copies of your ID or a photo of you with your ID.
Think you have been scammed?
If you think you or someone you know has been scammed,听lodge a report of misconduct with ob体育听and report the matter to police. You can also make a report to the Australian Cyber Security Centre at听. Your report may disrupt the scammers and hopefully will warn others to avoid it.
More information
- ob体育鈥檚 Moneysmart website has more information about听,听听and听.
- If you have been financially affected by COVID-19,听听can help cover rent and utility bills.
ob体育 is Australia鈥檚 corporate, markets and financial services regulator.