How the scam works:
Criminals claim to be the reps of companies that offers payday loans, which are paycheck advances of cash with a short-term payback.
Most of the callers identify themselves as attorneys for the loan company. They obtain credit card information, dates of birth, confidential telephone numbers and other personal information, and then proceed to victimize the residents. Even worse, they threaten the victims with blackmailing if they don’t receive the amount.
How to avoid the Payday Loans scam:
Try to stay away from business pitched over the phone, especially if they are payday loans. Do not respond to their threats. Ignore them and inform the Police or the closest law enforcement agencies. Feel free to post below the names of the scammers, if you were contacted. If you want to borrow money from payday loans agencies, use only reputable companies.
How to report the Payday Loans scam:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below: