News Column

Cellphone Users Warned About Fake Loan Givers

July 25, 2014

Mary Ramadhani



MEMBERS of the public have been cautioned against bogus financial institutions claiming to be offering loans through mobile phones.

Director of Tanzania Information Services (Maelezo), Mr Assah Mwambene, speaking to reporters in Dar es Salaam, said in recent months there have been fake institutions which claim to provide services through mobile networks and deceive people by using the names of government officials, political leaders and prominent banking institutions.

"I would like to warn the public to beware of frauds being perpetrated by some fake institutions in the country which pretend to be giving out loans through mobile phones," he said, adding:

"These fake institutions also use forged registration numbers from the Tanzania Revenue Authority (TRA) as a way to convince the people that their institutions are operating legally."

He cited one such fake institution going by the name 'Social Credit Loans,' which claims to be registered by TRA with registration No.33/SCC/REG/REG/7894 and TIN No: 203-344-6789. "According to investigation conducted by TRA, there is no such institution registered with it.

Further investigation has unearthed other fake institutions including 'Saving Foundation' and Quicken Loan," he said. He went on to explain that the operations of the fake institutions depended on mobile networks as well as loans and credits that they receive from people who have filled in their forms on their websites.

"Some of the phone numbers that this fake institution uses while performing their illegal business are 0715 373 307, 0755 066 858, 0752 567 717 and 0654 441 494," he indicated.


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Source: AllAfrica


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