Wednesday, 20 February 2019

Consumer Alert - Planet Online FInance

Consumer Alert - Planet Online Finance

Yet another fake lender running an advance fee scam. They advertise on Facebook as follows:
"Good Day south Africa
Please take your time to read through this post from the first line to the last before making any comments or questions.
We offer loan to blacklisted client,Business persons,Government employee,workers etc and client that are on ITC.
We offer loan to all SADC member states.(Angola, Botswana, Congo (DR), Lesotho, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe ).
All loan Application are processed and transferred from our office here in south Africa.
PLANET ONLINE FINANCE PTY LTD, Our obligation is helping the needy to gain financial stability in order to meet with the demands of living. Contact us at::([hidden information]) or call us on 0786168532 + Whatsapp Messages
We give out loans from the range of R10,000.00 to R10,000,000.00, at 3% interest rate Our loans are well insured and maximum security is our priority,
PLANET ONLINE FINANCE is a legitimate and well known lending company based in , SOUTH AFRICA.
We offer loans to individuals as well as organizations who have intentions of renovating houses and institutions, debt consolidation, re-financing and also establishment of business outfits. We give out our Loan in an currency of your choice.
* Are you financially Squeezed?
* Do you seek funds to pay off credits and debts
* Do you seek finance to set up your own business?
* Are you in need of private or business loans for various purposes?
* Do you seek loans to carry out large projects
* Do you seek funding for various other processes?
*Commercial Loans.
*Personal Loans.
*Business Loans.
*Investments Loans.
*Development Loans.
*Acquisition Loans .
*Construction loans.
*Business Loans And many More:
1: Color Copy of I.D / Valid Passport
2: Latest 3 Months Bank Statement
3: Latest Payslip, C.K/ Business Profile for Business Loan
4: Latest Proof of Residence.
1. Blacklisted can apply
2. No credit check
3. Debt review or court order can apply
4. ITC can apply
5. other countries outside South Africa can apply
Your Satisfaction and Financial Success is Our Aim.We are hoping to hear from you soon
You can also call us or send message through whatsapp: 0786168532."
The obvious clues include:
  • No landline number, just a cellphone.
  • Not even an email address.
  • No physical address.
  • Astonishingly cheap loans and HUGE amounts of money available.
I contacted these people and asked for a loan of P100,000, based on a monthly salary of P15,000. They responded with:
"Please can you send me ur I'd number along with ur names with ur cell phone number. Let me check if u qualify for a loan in our company".
I responded with a FAKE name and ID number. They responded:
"Let me check if u qualified for ur loan, I will get back to u ok".
Exactly 10 minutes later they said:
"Congregation, ur loan has been approved ok (...) Your monthly installment for 60 months , is 1796.87 Loan interest R 7812.20 Total payment R 107812.20. Your registration fee is R2500. This fee will enable us to register your information in our system and the release of your loan into your bank account. But this fee will be refunded back to you after three working days."
Of course this is what it's all about. The "registration fee" of R2,500.

I asked for their company details and they gave me an incomplete SA company registration number. However, a little detective work showed that no company called "Planet Online Finance" is registered in South Africa and the number they use has also been used before by "Bridge finance loan", an identical loan scam.

Please don't waste your time, money and effort on this scam.

No comments: