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Jan 18, 2024 · Phishing scams. The most common and popular form of e-mail or text scam is phishing, where a user receives a message impersonating a person or organization they’re familiar with – an urgent ...
- Can You Spot Loan Scams in Canada?
- Signs of A Loan Scam in Canada
- Types of Loan Scams in Canada
- What Should You Do If You’Ve Been scammed?
- Loan Scams in Canada: Media Reports
- Avoid Loan Scams in Canada and Get The Loan You Want
Equipping yourself with as much information about how a legitimate loan company should work is one of your best defences. Performing a Google search about online loans available to Canadians will yield millions of hits. This can be extremely intimidating. Fraudsters and scammers try to take advantage of this. They understand that the online loan wo...
This is the best piece of advice we can give you: if anything seems off, then trust your instincts. Here are a few things you need to be aware of when looking for an online private lender.
There are various types of loan scams in Canada to be aware of. In general, these are the most common you’ll come across:
Unfortunately, every year hundreds if not thousands of people are scammed out of their hard-earned money. If this has happened to you, regrettably there isn’t that much you can do but as soon as you realize you’ve been scammed the first thing you need to do it report it. Reporting the scam is so important because it’s one of the only things that mi...
Take a look here to see some media reports on loan scams in Canada: 1. From the CBC 1.1. Tight credit market opens up new territory for scam loans 1.2. Don’t fall for advance fee loan scams, Norfolk police say 1.3. Be wary of fraudulent online loan schemes, say Windsor police, Better Business Bureau 2. From the Toronto Star 2.1. They couldn’t get l...
Private lenders are one of the best alternatives to banks and more traditional lender; they are a great option for those who need more personalized help with a shorter timeline. We don’t want you to be scared of seeking a loan from an online private lender; we just want you to be diligent and prepared to deal with any fraud that might present itsel...
Aug 22, 2024 · Mogo offers a range of financial products with many positive reviews, though it has some negative reviews for its personal loans. The company has been featured in The Globe and Mail, BNN and CBC. Go to site Read review. Loan amount: $1,000 – $35,000. Loan term: 36 or 60 months. Rates: 8.99% - 34.99%.
Aug 30, 2021 · Unfortunately, as a person with bad credit and limited choices, the deal may seem too good to pass up and end up paying the fee. Once you pay, your money will disappear along with the scammer. About 6.5% of people are exposed to advance fee loan scams, and 71.1% of them are susceptible to losing money. The median amount of money lost is $1,450.
- Employment Scams. Employment scams are particularly wicked because they often pray upon newcomers to Canada. For those that are new to the job market, it may be difficult to tell when a job offer is far too good to be true.
- Tech Support Scams. Tech support scams are one of the most common types of scams and they usually target elderly individuals who may have difficulty with computers.
- CRA Scams. CRA scams are very common around tax season and can come in a variety of different forms. They usually involve calling you or sending you a text message, often claiming that the CRA will be sending you a tax refund and asking for personal information to update their records.
- Romance Scams. Romance scams, also called Catfish Scams, can be devastating for those affected. Not only are individuals scammed out of large amounts of money, but they are often left heartbroken and psychologically traumatized by the experience.
Nov 18, 2021 · Eventually, the debt falls into default and is sent to collections, an outcome that can have devastating consequences for your credit score. 4. Advance fee loan scams. In general, beware of any lender asking for an upfront fee or advance fee. In Canada, lenders aren’t allowed to ask for an upfront fee before giving a loan.
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Mar 21, 2023 · Knowing what a scam looks like, staying alert to suspicious activity and taking a moment to consider if an offer is too good to be true can help keep yourself, your loved ones and your personal information secure. 1. Gartner Research: Tap Into The Marketing Power of SMS. Things our lawyers want you to know.
