Loan Scam Using Stolen Identity

This scam exploits stolen identity details to obtain a bank loan under the victim’s name. The approved loan funds are deposited directly into the victim’s bank account, making it appear as a legitimate transaction. The scammer then quickly contacts the victim, falsely claiming the money was “transferred by mistake” and pressures them to return it. In reality, the victim is left responsible for repaying the loan while the scammer walks away with the funds. 

How it works? 

• Identity theft: Scammers obtain or purchase the victim’s personal details (IC, phone number, banking info) and use them to apply for a loan without the victim’s knowledge. 
• Loan approval and disbursement: Once approved, the loan amount is credited directly into the vitim’s bank account without their knowledge. 
• Fake “wrong transfer” claim: The scammer immediately contacts the victim, claiming the money was sent by mistake or belongs to them. 
• Pressure tactics: Victims are pressured with urgency, guilt, or threats such as legal action or police reports. 
• Money extraction: Believing it is a genuine banking error, the victim transfers the money to the scammer or mule accounts.
• Final outcome: The victim remains legally responsible for repaying the full loan amount while the scammer disappears with the money. 

Things to keep in mind 

• Unexpected money is a red flag: Any loan credit you did not apply for should be treated as suspicious until verified with your bank.  
• Never transfer money based on verbal claims: Do not act on instructions from unknown callers under any circumstances, regardless of urgency, emotional appeals, or claims of hardship. 
• Stop before acting: Scammers rely on panic to override judgment, take time to verify before responding, never transfer money under pressure. 
• Verify through official communication channels only: Contact your bank exclusively via official hotline numbers or secure banking applications. Do not rely on contact details provided by callers, SMS, or messaging platforms. 
• Let the bank handle mistaken or fraudulent transactions: All cases involving mistaken or fraudulent transactions are handled internally by the bank. Customers should not participate in any form of direct fund re-transfer. 
• Report immediately: Promptly inform your bank and relevant authorities if you suspect identity misuse or receive any suspicious or unexpected credit or loan-related funds. 

To report this issue, please get in touch with us.  

Rest assured that CelcomDigi is actively taking measures to ensure our customers do not fall prey to such scams.