Points to note: How are "fake loan apps" different from legitimate apps?

Currently, financial services through online channels are diverse. Especially giving loans through applications. Service users also appreciate its popularity because of its convenience. But it has become a channel for criminals to defraud by taking advantage of the time when people are in trouble. Need funds to circulate your business or spend in daily life. Therefore, in order to prevent becoming a victim of fraudsters bank finance We have collected points to notice about fake money loan apps as follows:

How to notice if you are a scammer or not?

1. Scammers often have borrowers transfer money to them first. Claiming that it was the first interest payment. or as a deposit for a loan If these behaviors are found, it can be assumed that It is definitely a scam. These scammers know that people who contact them about urgent money or loans are experiencing financial problems. And there may not be any other options. Therefore, it is necessary to take the risk of borrowing money online.

2. Money loan apps will have interest rates and various processing fees. More or less hidden Therefore, it is a point to note that if you want to borrow money through the app. The following conditions must be considered.

(1) You must see that the app The loan has a document processing fee. Or is there an increase in stamp duty? Because most reliable money loan apps waive this fee.
(2) A reliable money loan app will have a maximum interest rate of not more than 28% per year. If it exceeds this, be careful that it is a scam app.
(3)Reliable money loan app Documents will be used for consideration for a loan, only a statement with first name, last name, and account number only. If you request documents beyond this amount, you must ask the officer what they will be used for.
(4)Reliable money loan app It will ask for a copy of the ID card that the borrower must sign with his or her signature. or fingerprint scanning only There is no request for documents to sign as backup just in case.

Make sure to check at BOT License Check to avoid being scammed.

If scammers try to impersonate service users or financial institutions, the first thing to do is stay calm, don't believe them, and absolutely do not share any personal information if you're unsure. Immediately check the information here: https://www.bot.or.th/app/BotLicenseCheck . If your name doesn't match the system, there's a very high chance it's a scam.

What is BOT License Check ?

It is a system for checking information on licenses or registration certificates for operating businesses under the supervision of the Bank of Thailand (BoT), such as P-Loan, Nano Finance, e-Money. Searchers can download the results book. Verification of such information can be used as documentary evidence.

For those who are in distress or experiencing financial problems. In order not to fall prey to fraudsters You should contact a reliable financial institution. Or find an honest additional career to provide another source of income. So you don't have to risk being a victim of scammers.

Source: Bank of Thailand (BOT), KKP Advice Center https://advicecenter.kkpfg.com/th/money-matter/fake-application