Filipino expat warns against loan scammers in UAE

Estimated read time 5 min read

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Filipino expat warns against loan scammers in UAE

A Filipino expatriate in the UAE has warned residents to be cautious when dealing with loan agents, saying that he fell victim to a couple of scammers in the emirates.

Juris (not his real name) said he contacted a Filipina and a Pakistani man who advertised on social media that they could assist him in getting a loan. The couple told him they were based in Abu Dhabi.

“They asked for a copy of my Emirates ID, passport and business license,” he said, adding that the duo promised to secure him a bank loan for around Dh8,000 to Dh9,000.

Juris said he later found out that the duo had taken a Dh20,000 loan under his name. “I found out they faked a certificate to get the loan approved,” he said.

Speaking to Expatmedia.net, a bank agent said that customers should never give their sensitive banking information, mobile number and official documents to strangers. “They must always go for the proper and legal process,” advised the agent, who requested anonymity.

“Banks in the UAE have stringent screening for loan applicants who are self-employed and can’t produce evidence of a stable income, so this is why desperate individuals turn to agents who promise to do it for them in exchange for payment,” the bank officer told Expatmedia.net.

The officer said that scammers may take advantage of certain banks’ fast cash approval facility that only requires applicants to fill out a loan application online using their Emirates ID.

“It is possible that scammers can use people’s official documents and manipulate the system to steal money from someone’s account,” the bank officer said.

Police in the UAE have repeatedly warned residents against giving out their personal and banking information, and also from dealing with unsolicited offers and advertisements on social media. ICA/Expat Media


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