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Arlington Heights Resident Victim Of Advance-Fee Loan Scam

Tue July 23 2013 8:17 am  http://www.arlingtoncardinal.com/?p=65052
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Arlington Heights police recently received a report of a fast cash loan scam that involved fraud by website and by telephone calls.

The victim went to a website advertising fast cash loans. She gave the site her personal checking account information along with her name and cell phone number. She received a call from a person claiming to be “Michael Wilson” who stated she was approved for the $2,000 loan. He explained she needed to pay the first installment before receiving the cash. The victim purchased a money pack card for over $300 and provided the offender with the PIN number. He called back and stated the IRS had put a hold on the loan and she needed to put over $400 on a money pack card and again provide the PIN number. He called back later and asked for over $300 for a bank routing fee which the victim sent. The last time the offender called he told the victim her bank had sent the loan back to the offender and she need to pay a transfer fee of over $300, which she did. The victim had no more money to send and the loan never appeared in her account like the offender explained. There were no funds removed from the victim’s checking account which she cancelled.

Anyone having information about this or any other serious crime in Arlington Heights should submit an anonymous text tip by texting the keyword 847AHPD and your message to 847411(tip411) or call Arlington Heights Crime Stoppers at (847) 590-STOP. Callers are guaranteed anonymity and may qualify for a cash reward of up to $1,000.

From the Federal Trade Commission …

Six Sure Signs of an Advance-Fee Loan Scam

Following are red flags that can tip you off to scam artists’ tricks. For example:

1. A lender who isn’t interested in your credit history. A lender may offer loans or credit cards for many purposes — for example, so you can start a business or consolidate your bills. But one who doesn’t care about your credit record should worry you. Ads that say “Bad credit? No problem” or “We don’t care about your past. You deserve a loan” or “Get money fast” or even “No hassle — guaranteed” often indicate a scam.
Banks and other legitimate lenders generally evaluate creditworthiness and confirm the information in an application before they grant firm offers of credit to anyone.

2. Fees that aren’t disclosed clearly or prominently. Scam lenders may say you’ve been approved for a loan, then call or email demanding a fee before you can get the money. Any up-front fee that the lender wants to collect before granting the loan is a cue to walk away, especially if you’re told it’s for “insurance,” “processing,” or just “paperwork.”
Legitimate lenders often charge application, appraisal, or credit report fees. The differences? They disclose their fees clearly and prominently; they take their fees from the amount you borrow; and the fees usually are paid to the lender or broker after the loan is approved.

And if a lender says they won’t check your credit history, but wants your personal information, like your Social Security number or bank account number? Go somewhere else. They may use your information to debit your bank account to pay a fee they’re hiding.

3. A loan that is offered by phone. It is illegal for companies doing business by phone in the U.S. to promise you a loan or credit card and ask you to pay for it before they deliver.

4. A lender who uses a copy-cat or wanna-be name. Crooks give their companies names that sound like well-known or respected organizations and create websites that look professional. Some scam artists have pretended to be the Better Business Bureau, a major bank, or another reputable organization; some even produce forged paperwork or pay people to pretend to be references. Always get a company’s phone number from the phone book or directory assistance, and call to check they are who they say they are. Get a physical address, too: a company that advertises a PO Box as its address is one to check out with the appropriate authorities.

5. A lender who is not registered in your state. Lenders and loan brokers are required to register in the states where they do business. To check registration, call your state Attorney General’s office or your state’s Department of Banking or Financial Regulation. Checking registration does not guarantee that you will be happy with a lender, but it helps weed out the crooks.

6. A lender who asks you to wire money or pay an individual. Don’t make a payment for a loan or credit card directly to an individual; legitimate lenders don’t ask anyone to do that. In addition, don’t use a wire transfer service or send money orders for a loan. You have little recourse if there’s a problem with a wire transaction, and legitimate lenders don’t pressure their customers to wire money.

Finally, just because you’ve received a slick promotion, seen an ad for a loan or credit card in a prominent place in your neighborhood or in your newspaper, on television or on the Internet, or heard one on the radio, don’t assume it’s a good deal — or even legitimate. Scam artists work hard to make you think they’re legitimate, so it’s really important to do your homework.


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IMPORTANT NOTE: All persons referred to as subjects, defendants, offenders or suspects, etc. are presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.


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Anyone having information about serious crime in Arlington Heights should register on CitizenObserver.com and look for the anonymous TIP411 feature, or call Arlington Heights Crime Stoppers at 847-590-STOP (847-590-7867). Callers are guaranteed anonymity and may qualify for a cash reward of up to $1,000. Not a resident of Arlington Heights? Check CitizenObserver.com for availability for your community.

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