Advance Fee Loan Scam

1 topic · 1 source

Consumer Credit

A form of fraud in which consumers are asked to pay a fee up front and receive a quick loan of a large size with a very low APR. Consumers are lured to wire funds (oftentimes to Canada ) through newspaper and internet advertisements.

State of Maine, Department of Professional and Financial Regulation — Consumer Credit Protection Glossary retrieved 2014-05-16