Licensed moneylenders are not allowed to approve loans remotely or ask for deposit to secure loans

Anonymous | 30 Mar 2023

Loan Scam

I was in need of urgent financial assistance and decided to search online for a license lending company. I came across an advertisement and messaged them on WhatsApp. We had a conversation, and I provided them with my personal details. The representative asked for my first-time record, and I confirmed it. He then sent $200 to my account but insisted that I pay $300 and explained that the extra $100 would be refunded once I received my loan.

Later on, he asked me to send another $300, and I became suspicious and began to argue with him. Eventually, he convinced me that this was part of the company's terms and that I needed to send the additional $300. He then passed me to another individual named Aka Chris Chen/Darren Tan and asked me to send an invoice to Aka.

Aka then requested that I send $500 to activate my account and receive my loan. This made me extremely anxious, and I realized that I was dealing with scammers. They provided me with a bank account number, 271 439 11??, and demanded a $250 cancellation fee. They also threatened to come to my address and burn down my house.

I was in a desperate situation and ended up losing more money due to these scammers. It was a frustrating experience, and I urge everyone to be careful while dealing with online lending companies. It is crucial to do thorough research and be aware of the red flags of potential scams.