BBB Says Total Of $12 Million Lost From Advance Fee Loan Scams - September 1, 2022 - Micah Quinn

Scammers are now posing as money lenders and are ripping off Canadians of millions of dollars. That’s according to a report released by the Better Business Bureau saying that fraudulent advance fee loans are the culprit. Advance fee loan scams are when you are asked to send money in response to potentially getting a loan. The BBB says only five per cent of people who are victims will actually make a report. Wes Lafortune, the Media and Communications Specialist for the Better Business Bureau of Southern Alberta says there are ways you can protect yourself against these types of scams.

Lafortune says a total of $12 million has been lost across Canada from advance loan fee scams.

Aired on: Thursday, September 1, 2022

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