Fraud/Security Resources

FRAUD PROTECTION INFORMATION

This site was developed by NCUA (National Credit Union Administration) and includes information on Frauds & Scams, Identity Theft and Online Security.



Possible Advance Fee Scam


This is a message from the Washington State Department of Financial Institutions


Capitol Finance - Advance Fee Scam

08/09/2017 03:37 PM PDT


Wednesday, August 9, 2017

Alert Number: CA046840_8/8/17(8/18)


The Washington State Department of Financial Institutions warns consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams. It has been reported that a Washington State consumer was contacted and told he was approved for a loan. However, he had to first send verification funds that needed to be sent via an iTunes gift card. No loan was provided and the consumer did not receive a refund. It appears that Capitol Finance may be conducting an advance fee loan scam. No address information was provided to the consumer, other than the company was alleged to be located in Jacksonville, Florida. The consumer provided the following telephone numbers alleged to be associated with the company:


  • 904*410*0097
  • 727*466*3920

The Department is only reporting these allegations and has been unable to verify the information as belonging to Capitol Finance.


Capitol Finance is not licensed by DFI and is not registered to conduct business in Washington by the Department of Licensing, Department of Revenue, or the Secretary of State. DFI warns Washington consumers that when considering doing business with a financial service provider the consumer can:


  • Make sure that the entity is licensed. Consumers can use the "Verify a License" feature on DFI's website at www.dfi.wa.gov to check whether a payday or consumer loan company is licensed to conduct business in the state of Washington.
  • Never provide any personal information, such as social security number or bank account number or access if the company is not licensed or authorized to conduct business.

Important Information for Washington Consumers About Unlicensed Lenders


Washington State residents are informed that Washington State law provides in RCW 31.04.035 that fees or interest charged in the making of a nonresidential loan by an unlicensed lender must be refunded to the borrower. For a residential mortgage loan, an unlicensed lender must refund any non-third-party fees charged in connection with the origination (excluding interest charges).


Washington residents only: If you suspect unlicensed activity by a payday lender or consumer loan company, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. Even if the activity involves a loan you obtained over the internet, a license is generally still required. If a collection agency is attempting to collect a debt from you, you can check whether the company is licensed by the State of Washington Department of Licensing.


Collection activities by payday lenders in the State of Washington are subject to RCW 31.45.082, which limits the time, place, and manner by which a payday lender may collect a debt. Payday lenders must also provide borrowers with an installment plan if the borrower is not able to pay the small loan back when it is due.


Important Information For All Consumers


  • If you received a loan from a lender and someone else is now attempting to collect the loan, collection activity may be subject to the federal Fair Debt Collection Practices Act (FDCPA). If you are contacted by a third party claiming you owe a debt, you can request a "written validation notice," which must provide the amount of the debt, the name of the creditor you owe, and your rights under the FDCPA. If you have questions regarding federal debt collection laws you can contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP or online at www.ftc.gov.
  • If you feel you have been the victim of a scam you can contact the FTC at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or the Consumer Financial Protection Bureau (CFPB) at 1-855-411-CFPB (2372) or online at www.consumerfinance.gov.
  • If the scammers already have your bank account information, social security number, or other personal information, you may be a victim of identity theft. You can contact your bank and the three major credit bureaus to take appropriate precautions. The FTC has information for victims of identity theft online at www.ftc.gov.
  • If you feel you have been the victim of a scam involving the internet you can contact the Internet Crime Complaint Center online at www.ic3.gov.
  • If you feel you have been the victim of a financial scam and are concerned about your personal financial information, you can contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC's website at www.ftc.gov.
  • If you live in another state, go to this webpage to find the regulator in your home state. http://mortgage.nationwidelicensingsystem.org/consumer/Pages/AgencyContacts.aspx.

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POSSIBLE DEBT COLLECTION SCAM

This is a message from the Washington State Department of Financial Institutions

GM & Associates - Possible Debt Collection Scam

12/27/2016 11:31 AM PST



Tuesday, December 27, 2016

The Washington State Department of Financial Institutions (DFI) has received a complaint of what appears to be a debt collection scam.


The consumer reported receiving threatening calls from a company claiming to be "GM & Associates." GM & Associates threatened to garnish the consumer's wages if the consumer did not pay on an alleged debt with Riverside Financial. The consumer requested proof of the debt but GM & Associates refused to provide any. The consumer reported never obtaining a loan with Riverside Financial.


Contact information obtained from the complaint received:


Individuals:

Beverly Scott

Ms. Jones


Telephone numbers:

855*858*9970

855*208*0894


DFI warns consumers to never give any nonpublic person information, such as social security number, credit card, or bank account information to any individual, website, or company without first verifying their identity and license status. Consumers can determine whether a financial services company or individual is properly licensed to conduct business in the State of Washington by using the "Verify a License" feature on the DFI's website. Consumers can also check license status with the Department of Licensing.


GM & Associates is not licensed by DFI. They are also not licensed as collection agency by the Washington State Department of Licensing.


Important Information for Washington State Consumers

Washington State residents are informed that Washington State law provides in RCW 31.45.105(1)(d) and (3) that a "small loan" made by an unlicensed entity to a person physically located in Washington State is uncollectible and unenforceable in Washington State. A "small loan" is defined in RCW 31.45.073 and is a loan that does not exceed $700.


Debt Collection Laws

If you received a loan from a lender or owed money to a business and someone other than the lender or business is now attempting to collect from you, the collection activity may be subject to the federal Fair Debt Collection Practices Act (FDCPA). If you receive a communication from a party claiming that a debt is owed, you should request a "written validation notice," which must include the amount of the debt, the name of the creditor you owe, and your rights under the FDCPA. If you have questions regarding debt collection laws, contact the Federal Trade Commission at 1-877-FTC-HELP, or online.


If someone threatens to garnish your wages, contact your employer, or uses threatening, intimidating, or offensive language, report such actions to state and federal regulators. See below for how to contact the appropriate state and federal regulator.


Prevent and Report Identity Theft

Consumers should never make payments over the phone or via email to a third part debt collector that refuses to provide a written validation notice. Even if the party seems to have some of your personal or financial information, you should not make payments or provide bank account or credit card information without receiving a written validation notice. If the scammers already have your bank account information, social security number, or other nonpublic information, you may be a victim of identity theft and you should take appropriate precautions. The Federal Trade Commission (FTC) has information for victims of identity theft available online.


Report Suspicious Activity, Scams, or Fraud

Washington State residents only: If you suspect illegal or fraudulent activity involving a financial product or service, please contact the Department at 1-877-RING-DFI (746-4334), or online.


If you feel you have been the victim of a scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372) or online at www.consumerfinance.gov. You may also wish to contact the Office of the Attorney general at www.atg.wa.gov.


If you feel you have been the victim of a scam involving the internet please contact the Internet Crime Complaint Center online at www.ic3.gov.


If you feel you have been the victim of a financial scam and are concerned about your personal financial information, contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC's website.



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This is a message from the Washington State Department of Financial Institutions


Dakota Lending - Unlicensed Tribal Loan Company

01/05/2017 02:07 PM PST



Thursday, January 5, 2017

Dakota Lending d/b/a Myloansite.com


The Washington State Department of Financial Institutions (DFI) has received a complaint from a Washington State consumer against Dakota Lending d/b/a Myloansite.com (Dakota). The consumer reported that he received a loan from Dakota and was charged Automatic Clearing House payments on days which were not in accordance with the loan contract.


Dakota operates its website at [myloansite.com]. Dakota's lists its contact information as:


MyLoanSite.com

PO Box 50

Fort Thompson, SD 57339

Phone: 844*859*2652

Email: [cs@MyLoanSite.com]


It appears that Dakota may be operating as an online tribal lender. Dakota claims to be a Native American owned business operating within the interior boundaries of the Crow Creek Sioux Reservation located in South Dakota.


Dakota is not licensed by the DFI and is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.


DFI warns Washington State consumers that before doing business with a financial service provider the consumer should:


Make sure that the entity is licensed. Consumers can use the "Verify a License" feature on DFI's website at www.dfi.wa.gov to check whether a payday or consumer loan company is licensed to conduct business in the state of Washington.

Not provide any personal information, such as social security number or bank account number or access if the company is not licensed or authorized to conduct business.

Important Information for Washington State Consumers

Washington State residents with loans exceeding $700 are informed that Washington State law provides in RCW 31.04.035 that fees or interest charged in the making of a nonresidential loan by an unlicensed lender must be refunded to the borrower.


Report Unlicensed Lending Activity or Fraud

Washington State residents only: If you suspect unlicensed activity by a payday lender or consumer loan company, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. Even if your activity involves a loan over the internet, a license may still be required.


If you live in another state, go to this webpage to find the regulator in your home state. http://mortgage.nationwidelicensingsystem.org/consumer/Pages/AgencyContacts.aspx