How to recognise a loan scam

How do you recognise a loan scam?

The clearest sign is a payment demanded before any money reaches you. It may be called a release, an activation or a clearance charge, to “unlock” a loan that is said to be approved. Guaranteed approval is a second sign. Pressure to act at once is a third, and so is any request for your bank PIN, password or OTP. No legitimate lender or support agent needs your banking secrets, and no one should hold your bank card or identity document as security for a loan. A good logo, a polished message and a real-sounding company name prove nothing.

Check the company and the channel

Use the NCR register of credit providers to check a creditor’s legal name and status. Type a website address yourself rather than following an unexpected link. Compare contact details with a source you trust, not with the one in the message.

This website is published at www.lendumi.co.za. Anything claiming to be Lendumi on another domain is not us. Lendumi’s company and registration details and contact channels are listed on this website.

What should you do if you have already shared information?

If your banking details or your money may be at risk, contact your bank at once through its official fraud channel. Follow its guidance. Change any exposed password or PIN through the official service, keep the messages, and report suspected crime to the appropriate authorities.

Reporting impersonation

Keep the sender’s details, the message and the website address. Do not forward sensitive documents in the report. If someone is pretending to be Lendumi, send those details to compliance@lendumi.co.za. For any other business, use a contact route you have checked independently, and see the complaints guide if a regulator needs to hear about it.

References: NCR guidance on borrowing wisely · NCR register of credit providers.