Identity thieves have found a new way to steal consumers’ financial information: By calling with an “update” on a loan they never applied for.
The con starts with a robocall from a fictitious financing company, such as Lending Union, Capital Union Funding, Nationwide Lending Services, or the Small Business Union. The message says the lender has been working on your loan application, and a line of credit (typically $150,000 or $180,000, depending on the call) has been approved. But you need to call right away to “confirm a couple of quick things” before your application expires.
Even though you know you didn’t apply for a loan, the fraudsters hope you’ll be curious enough to stay on the line to talk to a real person or call back. If you do, they’ll try to get you to provide your Social Security and bank account numbers.
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