Foreign company wants to lend me money but they want upfront fees. Is this legal?
I own a business that needs to expand. We need working capital to make these changes. A nigerian and Malaysian company has agreed to lend us money, but they want fees sent by Western Union. It sounds fishy. Has anyone ever received a foreign loan? The terms are excellent.
- 9 years agoFavorite Answer
There is no loan.
There is only a scammer trying to steal your hard-earned money.
The next email was from one of the scammer's fake names and free email addresses and has demanded demand you pay for made-up fees, in cash, and only by Western Union or moneygram.
Western Union and moneygram do not verify anything on the form the sender fills out, not the name, not the street address, not the country, not even the gender of the receiver, it all means absolutely nothing. The clerk will not bother to check ID and will simply hand off your cash to whomever walks in the door with the MTCN# and question/answer. Neither company will tell the sender who picked up the cash, at what store location or even in what country your money walked out the door. Neither company has any kind of refund policy, money sent is money gone forever.
Now that you have responded to a scammer, you are on his 'potential sucker' list, he will try again to separate you from your cash. He will send you more emails from his other free email addresses using another of his fake names with all kinds of stories of great jobs, lottery winnings, millions in the bank and desperate, lonely, sexy singles. He will sell your email address to all his scamming buddies who will also send you dozens of fake emails all with the exact same goal, you sending them your cash via Western Union or moneygram.
You could post up the email address and the emails themselves that the scammer is using, it will help make your post more googlable for other suspicious potential victims to find when looking for information.
Do you know how to check the header of a received email? If not, you could google for information. Being able to read the header to determine the geographic location an email originated from will help you weed out the most obvious scams and scammers. Then delete and block that scammer. Don't bother to tell him that you know he is a scammer, it isn't worth your effort. He has one job in life, convincing victims to send him their hard-earned cash.
Whenever suspicious or just plain curious, google everything, website addresses, names used, companies mentioned, phone numbers given, all email addresses, even sentences from the emails as you might be unpleasantly surprised at what you find already posted online. You can also post/ask here and every scam-warner-anti-fraud-busting site you can find before taking a chance and losing money to a scammer.
If you google "fake loan Western Union", "advanced fee fraud scam" or something similar you will find hundreds of posts from victims and near-victims of this type of scam.
Of course the "terms" are excellent, there is no money to be loaned so the scammer will say anything to get you to send him your money.
- 9 years ago
First of all no legit business would request western union,
If they where a real bank or loan company they would have their own ways of getting their fees and not refer to using outside sources.
Secondly (and I am surprised you didn't know this as a business owner)...Loans usually don't come with upfront fees, just outrageouse ones tacked onto the end of your payments.
Not sure why everyone hates nigerians though, seems that every scammer on the world wide web uses there country as a cover for their scams....hmmm.
"I am from nigeria, spell really badly and will give you great rates on a huge loan if you wire me $2000 and give me your bank infomation for direct deposite!"
Translation - "I am a dumb redneck that can only read books for grade schoolers and somehow got my hands on a nigerian forwarding address so I am going to try and rob you today.
- KarylLv 44 years ago
All the online work from home websites are scams. Look into doing Medical Transcripts. Good luck!
- 9 years ago
NO NO NO!!!
It's a SCAM...
Don't give them any money, and don't give them any information they could use like bank details, home address etc...
If you have already, call the police and your bank
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- 9 years ago
It is a scam. Stay away.
Google "Nigerian scam" for more.Source(s): Experience
- Anonymous9 years ago
"Fishy" is an understatement. You are being scammed.