FSMA Issues Warning Against Unauthorized Lenders Offering Fake Credit
Overview of the Threat
The Financial Services and Markets Authority (FSMA) has recently issued a warning to the public regarding the proliferation of unauthorized lenders who are targeting consumers with offers of fraudulent credit.
According to FSMA, there have been 56 new fraudulent lenders identified, all of whom have been approaching Belgian consumers primarily through the internet.
Methods of Contact
Consumers are being contacted through various channels. Unsolicited messages are being sent via email and social media platforms like Facebook and WhatsApp.
Additionally, consumers may encounter these fraudulent offers through online advertisements. With the current economic climate, many are on the lookout for extra financial support, making them vulnerable to such scams.
Nature of the Fraud
These fraudulent entities are offering what they call “credit” to lure individuals into transferring money to them.
These scammers often present themselves as authorized lenders or registered credit intermediaries and may misuse the names or logos of reputable financial institutions.
This type of deception is known as ‘cloned firm’ fraud. The offers from these fraudsters typically feature very attractive conditions, such as large loan amounts at low-interest rates, and claim that there will be no credit checks.
Common Tactics
Those who fall for these offers are usually asked to pay certain upfront costs, which could be disguised as insurance premiums, file handling fees, or administrative costs.
However, these costs are entirely fictitious. After these payments are made, the fake lender disappears, and the victim is left unable to recover their money.
FSMA’s Advice
The FSMA strongly advises the public to avoid accepting any such dubious credit offers.
They have also listed the names of the illegally operating companies to caution the public, which includes entities like Acarix Groupe, Andenne Assur (a cloned firm), Axu Finance, and many others.
General Recommendations to Recognize Fraudulent Credit Offers
- Be Wary of Unsolicited Offers: If you receive an unexpected credit offer via internet or social media, be cautious.
- Too-Good-To-Be-True Terms: Be skeptical of offers that seem too favorable compared to what is generally available in the market.
- Upfront Payment Requests: Be suspicious if the credit offer requires you to pay a sum beforehand to cover various costs.
- Check for Authorization: Verify whether the lender is authorized or registered by using the search function on the FSMA website.
- Online Search: Do a quick search on the internet to see if there are any testimonials or complaints about the lender. Keep in mind that some positive reviews might be fake.
Conclusion
Given the increasing number of such fraudulent activities, it is crucial to remain vigilant. If you have any doubts or if you have already been approached by a suspicious company, do not hesitate to contact the FSMA through their consumer contact form.
Additionally, informing the FSMA about any encounters with suspicious companies can help them in issuing timely public warnings.
For more details, visit the official warning page on the FSMA’s website
