Belgian Regulator Warns Of Online Credit Scams

By Irene Madongo (January 21, 2022, 2:27 PM GMT) -- The Financial Services and Markets Authority of Belgium has warned against bogus companies that ask people to pay processing fees in advance for credit deals but which disappear into thin air when the payments are made.

The Belgian watchdog said on Thursday that it has recently identified 36 fraudulent lenders that offer credit to consumers in the country online. People approach the lenders through email, social media platforms such as Facebook or WhatsApp or via adverts on the internet, the regulator said. Meta, formerly known as Facebook, has been contacted for a comment.

The credit offers are fake and are intended to wheedle...

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