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Borrowing safely

How to spot a loan fraud

Fraudsters pretend to offer quick loans to steal money or details. These warning signs help you stay safe.

Firstfund team1 min read

Loan fraud usually starts with an offer that sounds easy: instant approval, no checks, money today. The aim is to take an upfront payment or your personal details.

Warning signs

  • Someone asks for an OTP, PIN or password.
  • You are asked to pay a fee before a loan is approved.
  • The offer comes from an unknown number, link or app.
  • You are pushed to decide immediately.

Firstfund will never ask for your OTP, PIN or an upfront fee to approve a loan.

If something feels wrong

  • Stop, and don't share any details or make a payment.
  • Report cyber fraud on the national helpline 1930.
  • Read our fraud awareness page for more ways to stay safe.

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