THE Davao City Anti-Scam Unit has issued a warning about advance fee loan scams following recent reports in the area. These scams involve fraudsters offering loans in exchange for upfront payments for processing, insurance, or other fees.
The scammers often use untraceable payment methods like cryptocurrencies, wire transfers, and gift cards, and promise loan approval without proper vetting.
“Dabawenyos are reminded to be more vigilant and to always verify the lender’s credentials and licensing. Also, avoid paying fees upfront for a loan before its release,” the ASU said, adding that victims can contact the unit at 09282962171 and 09560746942; or 225-6044 for assistance.
In November, the NBI-Southeastern Mindanao arrested a high-profile scammer who had defrauded three victims, one losing P600,000 and another P400,000. The suspect reportedly used false claims of connections to high-ranking officials to facilitate quick loan processing. DEF