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Avoid Scams

FatCatLoans takes the safety and privacy of its customers very seriously.

The information provided on this page is to help forewarn our customers about some of the methods fraudsters use to scam people who need a loan.

Top Tips

  • Never pay money in advance for the promise of a loan.
  • It is illegal to demand payment in return for a loan under ANY circumstances. Anyone asking you to pay them money to get a loan is 100% committing fraud, no matter what story they use to convince you otherwise.
  • Always be alert and pay attention to the email addresses and phone numbers that people, and companies use to contact you with. A fraudster will use fake email addresses (such as a Gmail address) that look similar to the genuine email address of the loan company that they are impersonating. They will also use fake phone numbers.
  • Never give out personal information if you cannot verify the identity of the person or company contacting you.
  • Fraudsters will always be persistent and will passively force their victims into paying them money by creating a false sense of urgency, or by creating a very convincing story. You should NEVER believe their story or feel pressured by their demands.

Fraud is sometimes difficult to identify: some fraudsters take the name of genuine companies and pose as them sending letters, emails, or making cold telephone calls to their victims making them believe that their loan has been fully approved and that a fee must be paid in order to receive their loan. They pressure their victim into paying money on the promise that a loan will follow. Be aware of these types of scams.

Below is a very common scam how fraudsters impersonate lenders or loan brokers. Please read these details and learn how to protect yourself.

Clone Firms

The fraudsters responsible for this type of scam copy the identity of a genuine lender or loan broker. They illegally use their brand name, logos, office address. They contact their victims and demand upfront payment of various “fees or taxes,” requesting payment via money (or crypto currency/Bitcoin), online or cash transfers to get you a loan. They often ask their victims to pay money into untraceable bank accounts, or crypto currency accounts such as asking them to deposit money into Bitcoin ATM machines.

These scammers are NOT affiliated with FatCatLoans or ANYONE associated with us. FatCatLoans does NOT require ANY upfront payment on any of its lender’s loans and does NOT charge ANY application fees whatsoever. These scammers often attempt to create convincing ‘loan approval’ wording in their emails to trick their victims into believing their loan is approved. They also often falsely copy legitimate lenders’ licenses or use fake loan confirmation or approval letters.

  • They ask for payment in advance
  • They ask for a prepaid debit card
  • They ask you to transfer them money
  • They send fraudulent approval or confirmation emails, SMS or letters

If you suspect that a clone firm or any other unauthorised firm has contacted you and tried to obtain personal details please email us immediately at contact@fatcatloans.ca