Please be advised that links within this article will take you to a website hosted by another party.
Integro Bank assumes no liability for the content, information, security, policies, or transactions provided by these other sites.
The Better Business Bureau (BBB) is warning consumers about a rise in loan processing phishing scams. They have received over 1,500 reports through their Scam Tracker system from individuals who received calls or voicemails from people pretending to be loan company agents according from The Better Business Bureau. These scammers pressure victims into sharing personal or financial information, often claiming they need to “finalize” a loan application.
Many of the reports mention callers using familiar names like Jessica or Evelyn, tactics aimed at building trust. The BBB recorded more than 500 reports involving “Jessica” and over 1,000 involving “Evelyn,” indicating that these names are common in these scams. Victims describe receiving repeated calls from various numbers, all insisting they need “just one more detail” to complete the supposed loan.
Some individuals reported being asked to pay $500 in advance, believing they were securing a $10,000 loan from entities called “Lending Union” or “West Coast Loan Center,” both of which the BBB identifies as non-existent according from Milwaukee Journal Sentinel. These advance-fee requests are classic indicators of “advance-fee loan” fraud, where the victim pays upfront but never receives any loan.
Due to the pattern of similar scripts and tactics, especially the repeated names and urgent demands, the BBB warns that returning calls to unknown numbers or engaging with these callers can lead victims further into the scam. Legitimate lenders, the BBB emphasizes, do not request sensitive personal information over unsolicited calls.
The scope of the problem continues to grow. Since early 2021, the BBB has received more than 23,000 reports related to phishing scams, highlighting the escalating efforts to steal personal information through phone calls, emails, and texts. While this statistic encompasses various types of phishing beyond just loan processing, it emphasizes the scale of the risk.
The BBB and news outlets recommend a cautious, verification-first approach. If you receive a suspicious call, hang up and contact the company or lender through official contact information that you verify independently. Never provide your Social Security number, bank account, routing number, or other personal identifiers in response to unsolicited requests. You can report your experience to the BBB’s Scam Tracker or other consumer protection agencies, which helps identify scam trends and protect others.