Fraud and Scam Alert

At Buddy Loan, we are committed to protecting our customers from fraudulent activities. We take the security of your personal and financial information very seriously. We want to ensure that you are aware of these potential risks and know how to protect yourself.

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Tips to Lookout for Scams and Fraud

  • Never pay in advance for the promise of a loan
  • Never give out personal information if you cannot verify the identity of the person or company contacting you
  • Never send money to a person or company if you don’t recall taking a loan from them

Fraudsters often impersonate genuine companies and pose as them by sending letters or making cold telephone calls to victimize the person on the other side of the call by promising loan deals that don't exist. They may attempt to persuade victims to part with their cash on the promise of a subsequent loan.

Note, please stay alert and cautious of these types of scams both online and offline communicated through Media, e-mail, and Phone calls, Messaging Applications.

Examples of Scams

Advanced Fee Loan Scam

Fraudsters responsible for this scam demand upfront payment of various "fees," often requesting payment via money, wire or cash transfers, or through prepaid debit cards like Green Dot.

  • These scammers are not affiliated with Buddy Loan and do not represent anyone associated with us.
  • Warning Signs:
    • Asking for payment in advance
    • Requesting a prepaid debit card like Green Dot
    • Asking you to wire them money

Debt Collection Scam

Scammers impersonate legitimate collectors or lenders through telephone calls, fraudulently attempting to collect actual and phantom debts.

  • These calls are not made by Buddy Loan or anyone affiliated with us.
  • Warning Signs:
    • Threatening you with violence, arrest, or wage garnishment
    • Refusing to provide you with your loan agreement or history
    • Attempting to collect an amount different from what you owe

Protect Yourself

  • Be cautious of any requests for upfront payment or sensitive financial information.
  • If you encounter suspicious activity, report it immediately to Buddy Loan to investigate and take necessary action.

By staying informed and vigilant, you can protect yourself from potential scams and fraud. Remember, at Buddy Loan, your security is our utmost priority.

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