Fraud and how to avoid it by Magilla

You are probably familiar with the convenience of applying for business and personal loans online. Every time you apply for a loan, you are putting your personal information at risk. Magilla takes a different approach to the loan application process that does not require your personal information. Learn what you can do to minimize fraud.

Types of Business Fraud

With the growing presence of online fraud, you need to remain cautious about your personal information when seeking out lending options. The most common forms of fraud include online, email, and mobile scams.

Online Scams

Also known as Phishing or Spoofing, this occurs when scammers use fake websites to steal your identity and personal information, such as credit cards, debit card PINs, and bank account details. Watch out for sites that guarantee loans, debt elimination, escrow services, investment opportunities, and immediate pre-approved credit cards.

Email Scams

Phishing scams extend to emails such as The Nigerian Letter or Charities and Lotteries. Email scams will ask you for a donation or congratulate you for winning a large sum of money or prize. Then, scammers will attempt to get you to pay a service fee to claim your winnings or verify your bank or credit card information. Fraud emails disguise themselves as legitimate companies and government agencies and claim that your account has been compromised or that your account was incorrectly charged.

Mobile Scams

Very similar to Phishing, Vishing (Cold Calling) and Smishing (SMS Text) scams look to steal your personal information by directly calling and texting your mobile phone. Vishing and Smishing scams will ask you to call a specific phone number to verify your bank account or credit card details. Also, be wary of mobile scams that ask you to pay a fee for an app installation or registration.

Magilla is Your Best Option For Minimizing Fraud

Your personal information will never be at risk with Magilla Loans. We are the first search engine to connect borrowers with lenders without requesting your personal information, which makes Magilla the best option for minimizing fraud. How? Magilla is:

  • ANONYMOUS: You will never have to provide your personal information, such as your name, phone number, or social security number. We do not require a credit check so you are safe from any credit score hits. Finally, you will not be contacted by lenders until you decide on an offer that is right for you.
  • SIMPLE: Choosing a lender has never been easier. After answering a handful of questions, you can receive multiple proposals within hours. You are in control to decide which lender and loan option is best for you. It is your decision, we just save you time.
  • FREE: This means no service costs or hidden fees. We believe that searching for the perfect loan should remain free. Magilla is the loan search engine you have been waiting for. Never pay to compare multiple loan options and rates so use Magilla when looking for your next loan.

Remember, anytime you apply for loans, you put your personal information at risk. Two easy ways to protect your information are verifying a person’s or company’s contact information when they request your personal information and asking questions and assessing why they need your information. More importantly, using Magilla is the best option to minimize fraud because you never have to provide your personal information.