Latest Case Scenario:
Victims received calls from fraudsters, who claimed to be a staff of a bank. Fraudsters claimed that they could offer re-mortgage loan with lower rate. Fraudsters met victims and claimed that he/she was a sub-contractor convincing victims to borrow personal loan from another financial institution. Fraudsters alleged that victims only needed to settle the loan with their company at a lower rate. Victims complied and handed the loan proceeds to fraudsters, who in turn became out of reach.
Other Common M.O.:
Fraudsters obtained victims’ personal particulars and property details from various sources. Afterwards, fraudsters forged property deeds, purporting to be the real owners, and borrowed mortgage loan from the banks or finance companies. As a result, the real owners or the finance companies suffered monetary loss.
What is our advice?
- Be alert when receiving unknown calls claiming to be staff of banks or finance companies.
- Check with the banks whenever you feel suspicious against the identities of the caller or the alleged company.
- Generally, bank would not request customers to borrow loan from another financial institution. Do check with the bank if you are in doubt.
- Do not hand over large sum of cash to other persons. Consider using bank transfer or cheques.
- If you have any queries, call the police immediately.