Loan Fraud and Scams In South Africa

Loan Fraud & Scams In South Africa | Blog | Atlas Finance

Loan Fraud and Scams In South Africa

Atlas Finance will never approach you via social media such as Email, Facebook or WhatsApp to offer you a loan. We have noticed an increase of people pretending to work for Atlas Finance and we’d like you to be more alert and protect yourself from fraud and scams.

There are people posing as Atlas Finance staff. They are using our logo to make documents look like official Atlas Finance paperwork. Please be cautious about who you give your details to. If you have not applied for a loan through Atlas Finance and someone contacts you saying they are from Atlas Finance, then this is fraud.

Please contact our call centre on 0800 204 679 if you have any concerns regarding fraud.

PLEASE BE AWARE

  • We will never ask for an upfront fee for your loan to be paid to you, or to increase the amount of your loan.
  • We offer loans up to the value of R8000 over a maximum term of 6 months; any message or advert offering you a loan for a much higher amount is a scam.
  • Be on the lookout for messages or posts with poor spelling and grammatical mistakes.
  • We will never approach you via Facebook & WhatApp to offer you a loan.
  • Any person associated with Atlas Finance will have an email address with the  “@atcorp” domain and never a @gmail or other address
  • Atlas Finance is a responsible registered credit provider. To report any fraudulent activity, please click here.
  • Should you receive a fraudulent WhatsApp message, please report it by following these steps:
    • Click on the senders “Contact Info”
    • Scroll to the bottom and click “Report Contact” 

 

EXAMPLES OF FRAUDULENT ADVERTISEMENTS

Facebook Messenger:

example of fraudulent fb post

 

Facebook Group Message:

 

WhatsApp Conversation:

 

Phishing Email from Atlas Finance Limited (this not Atlas Finance):

Atlas-Financial-Holdings-Fraud

AVOID BEING A SCAM VICTIM

Fraudsters are constantly innovating new ways to scam you out of your money.
Please read this to stay safe.

Loan scammers pretending to be from Atlas and providing fake atlas email addresses are sending messages and leaving posts offering instant loans at low-interest rates for a small advance fee. These scammers utilize similar tactics to the scammers employing lottery scams. To add legitimacy to the offers, the scammers will at times impersonate government agencies or authorities. To help protect yourself from scams, watch out for the following:

  • People you don’t know or any person asking you for money
  • People asking you for advance fees to receive a loan, prize or other winnings
  • People asking you to move your conversation off Facebook (typically another messaging service)
  • Messages or posts with poor spelling and grammatical mistakes
  • People or Pages claiming to represent large companies or organizations, particularly those who are not verified

HOW TO REPORT A POST ON FACEBOOK:

  • Click in the top right of the post
  • Click Report post or Report photo
  • Select the option that best describes the issue and follow the on-screen instructions

 

FRAUDSTERS ACTINGS AS ATLAS FINANCE

During the festive season we see an increase of people pretending to work for Atlas Finance and we’d like you to be more alert and protect yourself from fraud and scams

ATLAS FINANCE

We provide 1-6 month loans up to R8000

We will never ask for an upfront fee for your loan to be paid to you, or to increase the amount of your loan.

There are people posing as Atlas Finance staff. They are using our logo to make documents look like official Atlas Finance paperwork. Please be cautious about who you give your details to. If you have not applied for a loan through Atlas Finance and someone contacts you saying they are from Atlas Finance and offer you an approved loan or a loan amount more than R8000, then this is fraud.

Please contact our call centre on 0800 204 679 if you have any concerns regarding fraud.

TOP 3 SECURITY TIPS

1. Never tell anyone your NuCard PIN number.
2. Never respond to an email requesting personal information if you haven’t applied for a loan.
3. Check your bank statements regularly to identify any errors or fraudulent transactions that might have been performed on your account without your knowledge.

PHISHING SCAM

This happens when a criminal sends you an email or SMS claiming to be from your bank or loan provider, and trick you into sharing your private information with them. Never reply to these mails and notify your bank or loan provider immediately.

To prevent this type of fraud happening to you:

  • Never respond to emails asking for personal information. Your bank will never email you asking for personal information so be suspicious of any organisation that does.
  • Never click on a link received via email from someone you don’t know. Rather copy and paste the link into the browser.
  • Be wary of accessing Internet banking from internet cafes, hotel facilities or any other unsecured network – these are not protected according to your bank or loan institutions recommended standards.
  • Don’t share your logon details with anyone

 

SAFETY TIPS FOR USING YOUR NUCARD/BANK CARD

  • Only use ATMs in well-lit, busy areas and stay alert. If the lights aren’t working, don’t use that machine. Look out for suspicious individuals or circumstances. If you feel uncomfortable, trust your instincts and leave the area.
  • Have your NuCard ready in your hands. Opening your wallet or purse can be time consuming and also provides a potential thief with easier access to your valuables.
  • Never tell anyone your PIN number and be sure to shield the keypad with your hand when entering your PIN. To further reduce the risk of fraud, memorise your PIN and never write it down.
  • Be wary of strangers who offer to help you, even if you are experiencing difficulty with your transaction. Don’t allow others to distract you while you’re at the ATM.
  • Make sure the card you get back from the ATM after your transaction is yours.
  • Don’t count or expose your money after your transaction. As soon as you receive your money and bank receipt, put them away and leave the ATM area.
  • Contact your bank/loan provider immediately if you lose your card or it is stolen.

 

Do not pay anybody a commission or fee for your loan. Atlas Finance pays staff and agents directly. Make sure that your NuCard envelope is totally sealed, and has not been tampered with. Your NuCard must be issued to you when you get your loan, not any later. No one except you should know your NuCard pin number – not even Atlas staff. Check that you receive your full loan amount in your NuCard. Treat your NuCard like a bank card – be aware of who is around you at the ATM.