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Consider the following tips to avoid potentially damaging scams. 1. Unrealistic guarantees for approval. One of the easiest ways to spot a loan scam is the promise of guaranteed approval.
A fraudulent loan, however, is one in which the borrower is a business entity controlled by a dishonest bank officer or an accomplice; the "borrower" then declares bankruptcy or vanishes and the money is gone. The borrower may even be a non-existent entity and the loan is merely an artifice to conceal a theft of a large sum of money from the bank.
The Securities and Exchange Commission (SEC) filed criminal charges against Kapa-Community Ministry International and its executives, citing an investment scam. [7] [8] President Rodrigo Duterte was the first government official to announce the legal actions, doing so on June 8, 2019, when he ordered the National Bureau of Investigation (NBI) to shut down Kapa.
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...
Personal loans are an attractive option, especially if you need quick cash. But as Bankrate senior loans writer Denny Ceizyk explains, they aren’t the best financial move for everyone.
While payday loans are easy to access fast cash, they are also costly. Most come with triple-digit interest rates that can sometimes exceed the 500-percent mark. This, combined with their short ...
From late November to early December 2021, [1] numerous accountholders of BDO Unibank (Banco de Oro; BDO) lost their money through unauthorized bank transfers.The funds were noted to have been transferred to multiple Unionbank accounts under the name of a certain "Mark Nagoyo".
An instant loan can get you cash quickly — sometimes within the same day — even if you don’t have strong credit. However, instant loans can put you in a position where you may not be able to ...