Business Loan Scam

I apologize to my readers if this blog sounds like a broken record at times, but the dangers from scammers and fraudsters is real – and the more information available, the more likely that someone doing a web search will come across it and save their money or their information.

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I’ve talked often about robocalls; here’s a good article from Consumer Affairs.

“[Scammers] have raked in millions of dollars with schemes like the business loan pitch. The recorded greeting says something like “congratulations, your business has been approved for a $250,000 loan.” If you stay on the phone long enough to talk to a live person, that person will try to get information from you that can be used to steal your identity.”

Got one of these just now. I pressed “1” to find out how the scam worked, and got someone who was virtually incomprehensible; he sounded like a Dane with his mouth full of Knödel.¹ His first question, in rapid-fire Mongolian, was “What is the annual revenue of your company?” When I asked him who was offering me this loan, he hung up.

Be careful out there. If it’s a robocall, it’s almost certainly a scam.


¹ A Dane sounds like a Norwegian with his mouth full of Knödel (which is a very heavy, thick dumpling). So this gives you an idea of what I was hearing.

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2 responses to “Business Loan Scam

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