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Fake loan-matching site put consumers at risk

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Some scammers build and market websites that claim to offer loan-matching services. The sites convince people to share personal information, but instead of delivering help, the operators scoop up people’s information and sell it for their own profit. The FTC settled with one online operation that followed this pattern. Blue Global, LLC hosted dozens of “loan matching” websites that invited people to give detailed personal and financial information to be matched with a lender. The websites claimed to offer a secure online application, but the FTC says the websites didn’t protect information as promised. The sites also said the business would search for the lowest interest rate based on the person’s request. Instead, each loan application was sold to the first buyer, even if the buyer wasn’t even a lender, according to the FTC. In one period, the websites took 15 million applications, and only 2% were matched to a lender — and many of those people didn’t get a loan.

The company agreed to:

  • stop making misleading claims about its services, and
  • share a person’s sensitive information only after it checked-out a buyer and the person has given consent to have the information shared.

The FTC and the company also agreed to a court order restricting what the company tells consumers about its services, and who may receive loan applications.

If you get calls or emails from companies you don’t know, it might be because someone sold information you provided online. Before you fill out an online form or application, check out the company. You can search online for the company name plus the words “complaint” or “review.” Does the company explain how it will protect your information? Find out who will get your information before you share your Social Security number or financial details. If you’re thinking about an online payday loan, shop and compare offers from other kinds of lenders first. If you have trouble with business or your information and has been misused, tell the FTC.

Blog Topics: 
Money & Credit


I can only hope, those that were misused/stolen from, are granted the sum that was taken without permission. To even think/believe it is right to put such statements in contracts without fair/equal share is FRAUD. Great Job FTC!

Even I'm not an attorney and I called out "FRAUD!" before I saw comment posted above. I'll say "Ditto!" to Mr. Rocky Mountain Man, I've had my ID stolen off Gov. Works Web Page & they're paying 3 yrs. Insurance but I had benign brain surgery and not working, now I see I'm in Colorado? Stop this CRAP! Prosecute these loozers!

This reminds me of a recent telemarketer NoMoRobo has been bouncing from my land line: (206) 751-1364 is a fire department charity according to their recording. Unlike most scam callers who say press "1" to be removed from their call list, this one said added: please leave your name, full name and full address. Wow; I hope no one is dumb enough to fall for this crap.

I was scammed and I ended up losing my bank account.

Thank you. Very good post. They are now everywhere. Yesterday I accepted a cold call, thinking I would simply listen and get info. He offered a 3.99% card for balance transfer for a fee but NEVER mentioned that this fee would be pre-paid. $900!

I allowed him a cc w a hi line and he called back and approved me and took my address to send "info" which I assumed would be BEFORE the payment, a contract etc info. But no I was to pay him now w that hi limit card, without any evidence on his company. I began asking about his company and little info came up except this site that has no info at all. jnjconsulting. net

I believe the FTC should investigate but I will not submit a claim. I told him no and put an alert on my card.

This was truly a disappointment as I am a disabled writer who ex is a dead beat. I really could use consolidation.

I am proud of myself; I am learning to say no to the kind of offers and my FICO is rising. Thank you, np

hi has anyone ever heard of americanwestcommerce. com? they offer business loans/line of credit. They contacted me but now that I think about it I don't remember ever requesting anything from them and I wondered how they got my email, phone number, and some info. To apply the loan there is a $250 fee I have to pay upfront while they process my application and its approved guarantee. is this normal?

If a lender says you have to pay for an application, that's called an advance-fee loan.  The lender will get your money, but there's no guarantee you will get a loan. Read more about advance fee loans and related scams.

Oh yes, we have heard of them. They called us, too. Said we had inquired about a biz loan and they guaranteed it too. We complied with all requested documents. They told us it would be between 4 days to 4 weeks. It has been since June, we haven't heard one word from them and now they won't answer our calls. SCAM!! Definitely reporting to FTC!

Fake cashiers check with the remitted name LARAE TERRY. Check is used for Mystery Shopper job with Walmart. They send $2970 and you by 4-$500 gift cards and make a report. Anyway, called the bank after checking out the internet. It's been going on several months. Scam.

Is exprextrade a scam? Can anyone tell me

yes it is Kerrimo. They claim to be a lending company that operates from france, united states and canada. They ask u to send money to them to have their loan procedure done. But they will keep asking u for more and more cash. U never receive the loan. They will even send u a wire transfer transaction form from the Bank of Montreal for the amount that u requested. The bank of Montreal has no knowledge of this company please do not send them any money.

Trying to get information on exprextrade and whether they are a scam or not. They approve u for a loan and request the payment of the notaries fees before the transfer to your bank. When they send the loan contract. They then ask for u to pay to subscribe to the insurance and then they would transfer the funds to your bank account. I really need to know if this is a scam or not.

I recently had an unemployed friend who applied for an online loan through loans4 unemployed. co. uk this friend owed me a large amount of money and told me upon receiving his fund would fully pay me back, but he needed 500 pounds to send as insurance which I gave (stupidly). He was continuously on the phone with them the entire time while he used moneygram to send my 500. After sending he was then told they needed another 671 pounds to cover up the fees before releasing his loan. At this time I was very doubtful and talked to the man who had an Indiana accent stating this was a scam and demanded my 500 refunded. He stated they were a legitimate company but he couldn't money back the money until the rest was sent. I considered this a big loss and went home very disturb, my friend however had convinced himself this was real and borrowed the money from a relative once again they assured to put the loan into his account upon receipt of money. The next trouble was that they supposedly couldn't send the moneygram for the entire amount because of a law in Indiana that only allows so much cash amount to be wired at a time. So now they had to transfer three installments each costing 200 pounds. I thought that I had convinced him to discontinue sending money and report them but he ended up sending the 800. It was at now he known as the federal trade commission and was allotted a professional person. Once he vulnerable the corporate they need secure the money are there mon and he will truly see the unfinished funds on his account. These individuals are out of everglade state and continually used the identical numbers that we have a tendency to known as and were legit. They insist they're not scammers and have continually known as back once they aforesaid they'd. They're additionally purported to not solely send the initial loan amt however additionally refund all fees. I visited web site that looked legit and tried to seek out any complaints against them. I understand that nobody ought to must pay to urge a loan. My question is what are the chances the money are sent and has anyone ever addressed this company? I want my a reimbursement as a result of i've got messed my checking account up badly because of being overdrawn, however i additionally worry regarding my friend un agency currently owes 3 individuals cash and is getting ready to lose his mind over this. What ought to be our next step if this cash is not sent? Any assistance is appreciated

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