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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.
By December 15, the Bangko Sentral ng Pilipinas, the Philippines' central bank, has identified two to four people as perpetrators of the hack. These people were neither employees of BDO or Unionbank. [7] Five suspects, two Nigerian nationals and three Filipinos have been arrested in relation to the hack. [8]
Image credits: minmidmax #3. Credit Card processing fee. These companies are taking 3.5% of every transaction. It's 160 BILLION per year. And that's not including another $120 billion in interest ...
A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1]
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.
Some people use personal loans to consolidate debt, such as multiple credit card accounts. A personal loan with a single, fixed-rate monthly payment is easier to manage than several credit cards ...
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.
Instant loans are quick, but they often come with extremely high fees and predatory terms. Consider alternatives, like negotiation or a bad credit loan, before turning to instant options like ...