CROMWELL, Conn. — Scammers are at it again, posing as representatives from loan processing companies to trick consumers into sharing personal information. This advanced fee loan phishing scam often comes in the form of harassing phone calls and voicemails. The caller insists they need to verify minor details, such as your income, to finalize your loan application. While the message may sound convincing, it’s a ruse to steal your private information. The voicemail emphasizes urgency, requesting you call back before a specific deadline to finalize the loan.
BBB has received 500 Scam Tracker reports of this scheme from across the United States since November, indicating that scammers are aggressively targeting consumers. Since late December, Better Business Bureau Serving Connecticut has received more than 25 reports (click to read) of this scam, leaving consumers frustrated. A majority report the call coming from someone named "Jessica," though other common names have been used.
"They call all hours of the day morning, afternoon and night from different numbers. I want this to stop! I am on the do not call registry and they continue to call. I have so many numbers blocked from this same person named Jennifer the underwriter," one Connecticut consumer reported to BBB's Scam Tracker.
Tips to avoid the scam
- Verify the company’s legitimacy: If you’re contacted about a loan application you don’t recall submitting, hang up and do your research. Look up the company name online and contact them directly using verified contact information.
- Never share personal information with unsolicited callers: Scammers often ask for details like your Social Security number or bank account information. Avoid sharing sensitive information over the phone unless you initiated the call.
- Watch for red flags in voicemails: Be wary of messages with vague details, generic names, or urgent demands for a callback. Scammers often use scripted messages to target as many people as possible.
- Avoid calling unknown numbers back: Resist the urge to call the number back. Returning calls to unknown or suspicious numbers could connect you to scammers.
- Check for scam reports: Look up the phone number or details of the voicemail online. Many victims post about similar scams to warn others.
- Report suspicious activity: If you believe you’ve been contacted by a scammer, report the incident to BBB Scam Tracker at BBB.org/ScamTracker.