It’s one of the riskiest scams, according to the Better Business Bureau. Companies claiming to offer loans say they require loan insurance up front. But once you pay the insurance cost, the loan never materializes and you’re left in even worse financial straits than before.
The Lower Mainland BBB says it has seen a spate of these loan scams in the last six months, originating from a variety of companies, including Roswatertin Financial Group, Riverbine Financial Group, and Walsick Financial Group Inc.
“They are primarily targeting persons who have some kind of financial struggle or financial…