How To Avoid Personal Loan Scams

Scammers or fraudsters ultimate goals are to gain personal information, and money from consumers.

Monevo wants to assure our customers that they take precedence when it comes to this subject. We want to educate you on the many ways scammers try to gain your personal info and take advantage, for their own personal gain.

To clarify, Monevo will never ever charge you a fee for using its service and we will never ever contact you by telephone. 

Below you will see helpful tips to protect yourself from becoming a victim of a scam, these are some of most commonly reported tactics.

Scammer Tactics and What to be Aware of

Loan Offers Over the Phone

Monevo only operates online. We do not have a call center that solicits customers. If you ever receive any calls from a third party or someone claiming to be from Monevo, offering a loan, this is 100% a scam. Don’t give any of your information to these callers.

Callers Requesting Money

If you get a call stating you’ve been authorized to receive a loan, and to receive the loan you need to pay a certain amount this is a huge red flag. Monevo does not work with any lenders that require a payment before you are granted the loan. Don’t give any bank information or funds if you receive a call like this as this is most likely fraud.

Callers Claiming You Owe Money

Receiving calls stating you owe money in a threatening manner is a scam. All the lenders that Monevo have in their network all follow the Fair Debt Credit Practice and will never threaten or harass a consumer, whether you owe money or not. Monevo will also never make calls on the lender’s behalf trying to obtain money owed.

Callers Claiming to be Monevo or a Third-Party Company from Monevo

Monevo only provides support through email or live chat. Monevo will never place an outbound call, or solicit customers. Don’t provide any personal information to these scammers.

Have you been Scammed?

If you have been scammed or suspect that someone is trying to scam you, we advise you to report them to the Online Lenders Association consumer hotline.

http://www.onlinelendersalliance.org/resources/ola-consumer-hotline-1-
866-299-7585
.

OLA Consumer Hotline to report a scam at: 1-866-299-7585

### FRAUD ALERT ###

We are currently investigating a scam in which the perpetrators are contacting consumers pretending to be Monevo, in order to trick them into paying 'upfront fees' for a loan that is actually non existent.

The Online Lenders Alliance (http://onlinelendersalliance.org/) have been notified as well as the relevant authorities.   

Our company (Monevo Inc) does not and will not request any forms of ‘upfront payment(s)’ for our services and recommend that you do NOT pay any upfront fees for any financial product or service.

If you believe you have been subject to fraud, we recommend that you contact your bank and ask them to monitor your account for any suspicious activity and if in the event you have paid any fees upfront you request their assistance to retrieve those funds.

We also recommend that you contact the appropriate fraud notification service below:

Canada

- Anti Fraud Center who investigate cybercrime and fraudulent activity, their web site is; http://www.antifraudcentre-centreantifraude.ca

USA 

- Please visit https://www.usa.gov/stop-scams-frauds#item-35157 for more information on how to file a complaint

Compliance Team
Monevo Inc

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