Loans are offered on very advantageous terms: amounts vary from a few euros to several hundred thousand, interest rates are very low and constant regardless of the amount borrowed, and repayment periods are particularly long.
These very attractive conditions are often presented as exceptional, time-limited offers to encourage you to subscribe quickly.
Their granting is not subject to any resource conditions (no assessment of your solvency, which is obligatory for consumer credit or a real estate loan) nor the provision of a guarantee (no deposit required, for example).
Scammers promise to get you the loan immediately, sometimes within minutes, and claim that the funds will be available within 24 to 48 hours of the request.
An initial payment is quickly requested, often via an international money transfer service, to cover supposed costs (application fees, insurance, authentication, legalization, administrative fees, transfer, disbursement, etc.).
Once the fraudster has received the money, the victim no longer hears from their contact or has to pay more money under a new pretext (loan release, various fees, etc.), without any further results.
To make the credit offer more credible, email addresses or websites use assumed business names or even those of real or similar companies. Beware of identity theft!
Also beware of online advertising, especially on social media. Scammers are very active online.
How to protect yourself from credit scams?
Do not answer unsolicited phone calls from people you have not formally identified;
Collect information on the organization or intermediary offering you credit (company name, country of establishment, head office address, registration or approval number, civil liability insurance for intermediaries, etc.);
Always check that the company is authorized to offer credit in France: What registers should you consult to verify that a professional is authorized to practice?
Consult the blacklist updated by the Prudential Supervision and Resolution Authority (ACPR).
Please note that this list is not intended to be exhaustive. New scams appear regularly. If an entity or website’s name is not on the list, this does not necessarily mean that it is authorized to offer credit.
To find out more
What are the best ways to avoid credit scams?
Always make sure that the organization or intermediary is authorized to offer credit in France by consulting the register of authorized financial agents (REGAFI) , for banking establishments, and the website of ORIAS , the organization responsible for maintaining the register of insurance or banking intermediaries;
A company that offers credit must have an authorization or approval. If the company or person with whom you are in contact does not appear on one of these two registers, do not respond to their requests.
Carefully compare the information provided to you by your contact with the information contained in the said registers. Which registers should you consult to verify that a professional is authorized to practice?
Do not pay any money to obtain a loan or to release funds.
Any natural or legal person who assists, in any capacity whatsoever, in obtaining a loan of money is prohibited from receiving any sum whatsoever before the actual payment of the loaned funds.