Three Steps to Avoid Loan Scams
- Verify that the lender is a genuine service provider.
You can check the list of loan service providers authorised to operate on the Bank of Thailand website. It includes banks, non-bank providers, digital personal loan providers and peer-to-peer lending platform providers—more than 200 providers in total at the time this article was published.
Do not rely on a logo or website alone. Fraudsters may copy company logos and create websites or chat rooms to deceive potential victims. Contact the provider through an official channel, such as its official application, call centre or the contact information on its official website.
2. Stay alert, read every condition and do not rush to apply.
Be cautious if you are asked to transfer an application fee or interest before receiving the principal, offered an interest rate that exceeds the legal limit, or asked for more personal documents than reasonably necessary. Do not rush into a decision. Many victims transfer money before discovering that they will not receive a loan, and tracing the fraudsters can be difficult because they often use bank accounts opened by other people.
3. If you become a victim, report it promptly.
If you believe you have been targeted by a loan scam, contact the genuine provider or company immediately to ask for guidance. If you have been defrauded, promptly report the matter to the local police or the Police Cyber Taskforce. Do not delay.
Muangthai Capital Public Company Limited:
🚫 does not enter into contracts or accept loan applications online;
🚫 has no agents or employees authorised to arrange contracts online;
🚫 does not ask customers to submit personal information online to complete a contract; and
🚫 does not ask customers to transfer advance payments for guarantees, documents or other costs in order to enter into a contract.
Information courtesy of the Bank of Thailand / https://www.it24hrs.com/2021/fake-loan-warning/
