Home Loan Scams BBB warns of cash app scams, fake loan offers

BBB warns of cash app scams, fake loan offers

GREEN BAY, Wis. (WBAY) – The Better Business Bureau (BBB) in Wisconsin says citizens lost $93,000 to scams this summer.

People say they got an e-mail that appears to be a legitimate loan company, with a logo and contact information.

One victim told the Wisconsin BBB that “the money will be available the next day, but then it will be rejected by your bank three days later.”

Before the check clears, the fake lender demands you buy insurance for the loan.

Victims don’t realize it’s fake until after they pay the insurance.

The BBB offers these four tips to avoid fake loan offers:

  • Avoid unsolicited loan offers. Scammers use offers of quick cash to lure you in–don’t fall for it. Whether they contact you by phone, email or text or send loan offers by mail, approach all unsolicited offers for money with caution.
  • Expect a credit check. These scams often prey on people who may not easily qualify for a loan. No legitimate lender will provide…

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