Protecting Yourself from Fake Loan Websites

Unfortunately, any website can be copied word for word and fake loan websites pop up all the time on the internet. They can look so real that many people who are internet-savvy are still drawn in to applying for a loan and inputting private details. When using any internet webpage, you always need to be on the lookout for anything that seems out of place. For those who have bad credit, it is even easier to fall into this trap as fake companies offer payday loans to those who are most in need.

What Are Fake Loan Websites?

Fake loan websites are being shut down daily by the FCA (Financial Conduct Authority) and they are well aware that this is happening, but there is not much they can do to stop it until they are aware of the page. These fake loan companies are very clever and even use a Firm Registration Number (FRN) to show customers that they are legitimate, except they are illegally using another company’s FRN. They may send you a spam email or even call you on the phone asking if you need quick cash. It is super easy to fall for these scams as they act as a company that is real.

What Should I Be Looking For?

If you don’t want to fall victim to one of these scams, there are a few things that you can do. Firstly, never use a loan company that has been advertised through your spam inbox; it has probably been filtered in there for a reason. If you do believe the site is real, search for it on Google instead of going through the link in the email. When using any loan company, check in the web search bar for a lock symbol. This means all your data is safe and protected.

Check the website URL too for any slight changes; for example, they may appear as the same name as a real loan company, but they have added an extra letter or number into the URL that many wouldn’t notice without a closer look. Always do your research and check on the FCA, as they have a complete list of all loan companies that are legal and exist in the UK.

How to Stay Away from Fake Loan Websites

If you are still worried, then a quick search on Google can help to confirm if the website you are using is real. For those with bad credit, you need to be more wary because many companies target those who are most vulnerable as often finding a loan with bad credit is harder. Fortunately, if you are looking for bad credit loans, BingoLoans are there to help you out. This is a completely reputable site for those with bad credit who need a loan for those little emergencies in life.

If you are worried you have been scammed by a fake loan company, you should report the website immediately and inform your bank that details may have been stolen.