The Arizona Attorney General is warning Arizona citizens to watch out for fraudulent loan ads using official lender logos.

Ads for that fake financial loans come in more compact-market and community newspapers and provide mortgage, small company, debt consolidation reduction or any other financial loans. The scam uses the credibility from the home loans provider logo design to induce customers to use. To reply to the advertisement, sufferers call a "third-party consultant" who solicits application information including social security amounts. Throughout this mobile call, the "loan" is definitely approved.

This third-party consultant then faxes a loan package towards the victim. The package incorporates a request banking account information. Next, sufferers wire a needed advance payment or perhaps a deposit through Western Union towards the third-party consultant. The naive consumer never acquires a loan, but is fooled through the telephone loan approval into delivering advance obligations or deposits. The consultants disappear and also the sufferers lose their cash.

Of more concern would be that the loan package frequently demands copies of victims' drivers' licenses and Social Security cards. This leaves sufferers available to id theft additionally to losing their cash.

"Never react to any request to wire funds or send identification information unless of course you coping your personal bank representative. Always err along the side of caution," stated the lawyer General.