Scammers Offering ‘Social Grant Loans’ – Debtfree Magazine

Scammers are utilizing the SASSA model or the phrases Social Grant in pretend mortgage scams.

Lots of the scams contain getting customers to pay a pretend charge upfront earlier than the mortgage might be accessed. Then the scammers run away and the patron will get nothing. These are generally provided on social media or over a messaging platform (like Whatsapp).

Different pretend affords that use these catchphrases are literally simply providing unlawful loans the place they then take the patron’s SASSA card or ID or financial institution card as collateral and cost illegally excessive rates of interest. Such people are simply unlawful mortgage sharks and won’t be registered with the Nationwide Credit score Regulator.

Any such pretend affords can and needs to be reported and the police and NCR can help.