Financial experts have alerted clients of different financial institutions, particularly banks, to be alert for a rapidly emerging scam that scammers are using to defraud people of their hard-earned money.
The loader scam is the name of the illicit scheme. Experts in security claim that thieves would ask clients directly through direct messaging whether they have a bank account.
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“They’ll then tell you that they can ‘load your account’ with money and split the money with you,” The guards issued a warning.
“Sometimes they’ll ask for a ‘deposit’ as collateral before loading your account.
After you’ve been convinced, they will request your online banking username and password so they can take the necessary steps to get the money in your account,” The guards explained.
Upon obtaining the customer’s account details, the fraudulent actors will proceed to get a loan online using the customer’s identity.
“The money will be in your account and they’ll take all the proceeds – including your deposit and leave you with a loan to repay.
Avoid falling for con artists’ tricks and allowing them to steal your personal information. Security experts said, “Remember these tips to help keep yourself and your money safe.”
Also, banks have provided some safety advice., “If it’s too good to be true, it probably is. Never share your password, PIN, RSA token number, and other personal information with anyone. Report these accounts for fraud to the social media platform.”
