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Online loan – how to avoid scams?

The Internet offers a lot of opportunities, large enough that most of your life can be organized properly without leaving your home. This even applies to getting extra cash. That is why online payday loans have become so popular and enjoy the trust of their customers.

However, navigating the Internet has its dark sides – there are new ways to cheat every now and then, and many people have some degree of legitimate fear of doing things on the Internet that require the use of sensitive data. However, the online fraud procedure is quite elaborate, so with proper precautions the risk is minimal.

To what extent is a loan fraud possible?

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Taking a loan online always carries some risk. Fortunately, the security of loan companies used on their websites very effectively reduces this risk. Among others, SSL encryption is used, also implemented by online banking platforms, perfectly protecting against data leakage.

Taking a loan also requires you to prove your identity several times and to have data that should not be accessed by anyone other than the borrower himself (e.g. on employment). Therefore, it is most often the borrower’s ignorance that can expose him to extortion of the loan. For this to happen, the phishing scam must face exceptionally friendly conditions – several situations must occur at once for the loan fraud to take place.


How to protect yourself from fraud by a loan company?

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Unfortunately, it happens that loan companies are also cheating. Fortunately, potential fraud attempts can also be easily detected if you reduce your confidence and check the loan company in advance. A company that does not want to grant a loan at all, but only deceives the customer, will certainly meet some or all of the criteria in the following list: is not a member of the Polish Association of Loan Institutions, does not appear in the Central Statistical Office – it should be listed therein with the NIP and REGON numbers, charges fees for processing the application, may require a paid telephone or a premium SMS, there are no own regulations, or these regulations are extremely vague and stripped down , requires sending an ID card scan

You can (and even should) fight for your rights

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A person who is the victim of a loan fraud has the right to report this fact to the police (first), the Consumer Ombudsman and the Polish Financial Supervision Authority. Although in such a situation “milk has already spilled”, one should not neglect the action – the investigation of justice will take time, but it can bring some effects, even such that the fraudsters will not be met by more people.


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