Credit fraud. Loans between individuals

Many people with bad intentions about small advertisements offer quick money on the web under the title of personal loan, also on Facebook or websites that are serious, you can find these types of ads.

We made our investigation to understand the mechanisms and pitfalls.

What are the signs of fraud?

credit loan

You should be careful about the following:

  • Everyone is ready to lend immense sums to whoever: millions of francs, even up to 100 million! (For a normal personal loan, the maximum is USD 250,000 and the conditions for granting the loan are very strict)
  • Extremely low interest rates: from 2% to 5% (minimum in Switzerland: 5.9% with Moneymind Bank
  • Repayment duration from 1 to 20 – 30 – 40 years and some even offer to start repaying after 6 months or from the month you are able to do so! (Maximum in Switzerland: up to 10 years with Earnlinks Finance)
  • They are mainly aimed at the people to whom the banks have refused, who have financial difficulties and are helpless.

Example of an advertisement

Swiss private person offers you a loan of USD 1,000 to USD 2,000,000 for anyone who is able to repay it at a low interest rate of 2%. We are serious individuals offering loans between individuals who need for small business, personal investment for only up to 2% interest asking for amount for rate, and a duration of 1 – 20 years. We grant local and international loans to people worldwide. Our organization is not a bank and we don’t need a lot of documents. Good loan and honest and reliable. Contact me today and tell me what amount you would like to borrow.

How do these fraudsters present themselves?

credit loan

They introduce themselves as very generous and rich private individuals who want to help the whole world, even those who can never pay back a cent.

Sometimes they also try to gain your trust by introducing yourself as a third party who can introduce you to a moneylender (who of course, as you understand, is a fraudster yourself) and tell you how they got that money.

The rip-off strategy on Facebook is to put credibility in the foreground:

  • Large number of members (who are of course wrong)
  • A lot of posts and I like

Funny though, if you’re a member yourself, you can’t post comments…?

Our investigation into 3 fraudsters

credit fraud

Our effects are not covered by 3 different arnaqueurs.

I introduce myself as someone who has been unemployed for 6 months, debt enforcement and debt … so the worst situation!

Answer of all 3: Woouaouuuh … Everyone is ready to give a loan even though it is almost 100% certain that I will not repay anything! However, you ask me to deliver the documents as soon as possible. One is even willing to lend me up to USD 1 million !!!!

However, one of the fraudsters has made a condition, I quote: “is in full possession of his mental powers”. To be “honest”, I informed him that I suffer from bipolar disorders and that I am undergoing severe treatment, but he agreed without hesitation, my state of health met the criteria!

At the center of the fraud: costs to be paid


After sending the documents, you have to pay costs to receive your money (supposedly for the notary, etc.). However, you were not informed of this at the beginning of your negotiations. These costs range from USD 100 to USD 600.

If you are hesitant to pay these costs, they will put you in touch with the alleged notary who will confirm that the costs are legally correct. You will also be surprised by an email from a stranger who guarantees that this person is absolutely «honest» and that he himself received money from him with whom he could solve all the problems!

Of course, once you’ve paid these costs, you won’t get a single cent in your account. Additional costs will be charged to release the money until you finally realize that you have been cheated! And after that, radio silence, the fraudsters have disappeared …

In conclusion, when you apply for a loan, you never have to pay any costs! If you are asked to make a payment, it is a fraud!

It is difficult to get a loan these days. The conditions have been tightening continuously since 2003. It is a lie that money can be obtained so easily and at such favorable conditions.

And finally, never give a copy of your ID card or confidential information about your private life to strangers, the word data protection does not exist for them!