VIDEO: Non-Disbursed Loans Through Fake Pages – Police Warning

Fraud is the theft of someone else's property through deception or the abuse of trust. In our modern era, where most financial transactions can be conducted online, individuals with criminal inclinations devise credible mechanisms to unlawfully obtain other's property via the internet.

The police present one of the common mechanisms of such fraud. Those who seek to gain profit through deceit create pages on social networks under various names of loan organizations, posting enticing advertisements about offering loans at low-interest rates.

Moreover, they indicate that loans are granted even to individuals listed in what is known as the “blacklist”. Some of those who see these advertisements contact the users of these pages through social networks. After receiving passport photos from the applicants seeking loans, these users inform them that the loan has supposedly been approved but will only be disbursed after a certain amount is paid in advance, for instance, 18,000, 20,000, or 30,000 drams.

Deceived citizens, believing the false information about an approved loan, agree to pay. They transfer these amounts to the provided bank or electronic accounts, hoping to receive the loan. Subsequently, the messages either go unanswered, or the pages are deleted.

The Police of the Republic of Armenia urges the public to refrain from such transactions and avoid falling into traps. If you have already been a victim, please contact the police.