Scam targets People who are Applying Loans Online

A new type of scam travelling on the Internet is focusing people applying for loans. Customer Detective Jodi Brooks thought the scams was main issue to investigate. Brooks told that the scam is like other scams. They don’t care anything, their aim is only to attain money. Brooks discussed with one victim who wanted to tell his story to secure others from being cheated. 

Adam Carerra is from Queens, N.Y. He went to Colorado for work in construction, and at 24, he’s got some debt. 

I was trying to get some cash real bad because there were factors I needed to pay off, and I also required to go to New York to see my family, Carerra said. 

So he applied dozens of loan applications online. He realized, why not try? Carerra told that he gave him details, they would examine around, they would see if they gives the loan or not. If not they would deliver me to someone else that would possibly be able to. 

Carrera got a hit and his loan form was accepted. I would just put down a little transaction that I would get back with loan after I was accepted. 

He compensated European Nation $137 to wire money to the Dominican Republic. A few times later he ran into an issue. 

“He was telling me that his pc was revealing that I had to pay an extra fee.” Carerra told that he got cheated, but the fraud was not over yet. “I received a phone call revealing I had a lawsuit put out against me for a financial loan that was taken out and not paid for.” That’s when he realized he had been taken. If he can't get a loan, he was sure no one else could in his name either, so he approached the Colorado Bureau of Investigation. 

CBI representative Susan Medina told that Coloradoans are being victimized by this scams.

Medina says loan frauds are charging affected individuals tens of lots of money. The best idea that it’s a fraud is when they ask for money in advance side. “You’re going to have to provide cash to get cash, and as aspect of that they are going to ask you to wire money, and wire that overseas,” Medina said. It’s not obvious exactly what website or link Carerra visited on, but when he wants a loan he’s going to a bank.

When it comes to on the internet, they are going to ask for secure information such as bank account details, a Social Security number, and other details. Before filling it out, verify it’s a genuine lender or not.

Scams in India

LOAN BRIBERY SCAM:
The officials of Indian banks and financial firms have been accused of intriguing bribes to grant corporate loans where local media reported, it could run into millions of dollars.

Central Bureau of Investigation, last week arrested eight people, the chief executive of LIC Housing Finance and senior officials at state-run Central Bank of India and Punjab National Bank and Bank of India.

CBI reported that the bribes were allegedly paid by private finance firm money matters financial services, for the loan beneficiaries.

Pranab Mukherjee, Finance Minister asked investors not to panic over the case, comments by other officials that this is a case of individual wrongdoing. It will not be a widespread scam and that the banking sector will not be affected by it.

COMMONWEALTH GAMES:
The sporting burlesque in October, cost up to $6 billion, was dogged by alleged corruption, the purchase of issuing contracts. The anti-corruption watchdog has identified more than 16 projects with possible scam .

The anti-corruption watchdog, the state auditor, the CBI and a special committee set up by Prime Minister Singh, are inquiring the allegations. On Tuesday, the CBI raided the homes of the Games organizing secretary, part of a probe into $21.7 million of misplaced funds.

HOUSING SCAM:
Congress party politicians, bureaucrats have been accused of taking over land meant to build apartments for war widows. The government sacked the chief minister of western Maharashtra state. The Arabian Sea-facing block with 103 apartments in an upscale Mumbai district, that among the world's most expensive pieces of real estate. Apartments were sold for as little as $130,000. The government has taken back permissions allowing owners to occupy the apartments, leading to the disconnection of power supply. CBI has investigating the case.

Loan scam 17 companies on CBI radar

The Central Bureau of Investigation (CBI) has now raised its focus to 17 companies that supposedly received loans. The investigating agency has served warning to all companies in multi-crore scam. They asked them to submit details of the loans they got as suspected beneficiaries.

Totally eight people have been arrested by the CBI. Ramchandran Nair, the Chief Executive Officer (CEO) of LIC Housing Finance, RN Tayal, General Manager of Bank of India and Venkoba Gujjal, Deputy General Manager of Punjab National Bank. Private company concerned is money scam and three of its senior-most officials; have been arrested.

In other case, Nar0esh Chopra of LIC Mumbai has been accused of receiving Rs. 16 lakes from Money Matter scam Rajesh Sharma. Chopra purportedly traded confidential information on LIC investments to the Adani Group.

Sources in LIC have told NDTV that the scammers were committed in the officers' own capacity, and no norms were violated. LIC had reported on Wednesday, All procedures were adhered to in approving the loans.

Deepak Parekh, the chairman of HDFC Bank said: People working in public sector organizations had sanctioning loans by taking money and they zeroed in on real-estate sector and certain developers who must have paid money to get loans sanctioned. The arrests came after a CBI investigation that covers 5 cities and lasted over a year.

Students warned to beware of scam emails

Today students were warned to be wary of scam emails purporting to be about loans and grants, later it emerged that 50 scam websites targeting young people have been shut down during the previous year.

Thousands of people are initializing university in the coming weeks and Student Finance England which processes English students loans and grants, nowadays urged students to “remain cautious" and not disclose any personal or bank details in response to email requests that look like they are from either itself or its parent company, the Student Loans Company. Student Finance England expects to make payments of more than 600,000 students this week. Fraudsters are taking advantage to target students who are waiting for money to arrive.

"Students are likely to receive a great deal of correspondence from Student Finance England with payment schedule letters” The fraud manager Heather Laing reported.
She added, Scammers take advantage of this increased contact from the company, and some students may fall victim to an email request that looks to be from Student Finance England. However, they will never ask students to confirm their bank details via email If you receive an email which you suspect is a scam email purporting to be from the Student Loans Company or Student Finance England forward it for investigate.

Laing said the organization monitored the problem closely. Anyone who has already disclosed their details should get in touch with Student Finance England immediately, and also change their account password as soon as possible.

The National Union of Students is supporting the campaign and said that if a student's application had been received and processed; enrolling on their course would release their student finance, including any grant or loan to which they were permitted. The first lump sum would reach their account in two to three working days. The National Union of Students said one of the best ways for people to protect themselves was to remove their email address if it was online, or hide it on social networking sites such as Face book.