Scammers are sending text messages claiming you have been approved or pre-approved for a loan, even if you never applied. These messages are designed to trick you into responding or clicking a link.
According to the Federal Trade Commission (FTC), the scammer may ask you to:
- Reply to the message
- Click a link
- Provide personal or financial information
They may claim this is the final step or that you must act quickly to receive the loan. This is a scam.
Legitimate lenders will not:
- Send unsolicited loan approvals by text;
- Ask for sensitive information through text messages;
- Require immediate action to “secure” a loan.
Responding to these scam texts could lead to identity theft, financial loss, or unauthorized use of your personal information. Receiving these messages does not mean a real loan exists and does not indicate your credit was checked. Phone numbers are often randomly generated or obtained through data lists.
So, what should you do if you receive one of these text messages?
- Do not reply.
- Do not click any links.
- Delete the messages.
- Report it to the FTC at ReportFraud.ftc.gov.
If you think a scammer has your personal CEFCU financial account information, contact us at 1.800.542.3328.
