Amidst the growing supply of express credits in Mexico, the National Commission for the Protection and Defense of Financial Services Users (Condusef) issued a crucial alert for consumers.
This organization warns about the latent risk of falling into the hands of fraudulent companies that, taking advantage of people’s need for liquidity, offer quick loans without carrying out the appropriate controls.
These practices can not only result in the loss of money deposited as collateral, but also exposure to possible identity theft or the compromise of sensitive personal data.
The express credits They are loans that promise speed and ease in obtaining them, often without requiring proof of income or consultation in the Credit bureau of the applicant. These offers may appear in newspaper advertisements, flyers, unsolicited phone calls, websites and social media.
Condusef He warned that many of these companies operate as managers for various financial or commercial entities, asking applicants for an initial deposit under the pretext of management, administrative expenses, bail or insurance.
Once the money is received, the company can claim that the credit is in the authorization process without ever completing the transaction, leaving consumers without the loan and without the possibility of recovering their money.
- Check the institution’s authorization: Before applying for any loan, make sure that the company is duly registered and authorized by Condusef. You can verify this in the Registry of Financial Service Providers (SIPRES) of Condusef.
- Be wary of unrealistically good offers: If a credit offer seems too good to be true, it probably is. Legitimate companies usually have clear requirements and do not guarantee approval without evaluating the applicant’s ability to pay.
- Do not provide personal data without verification: Avoid sharing sensitive information such as credit card numbers, passwords or personal documents with unverified companies or those that contact you without first being requested.
- Do not make advance payments: A legitimate loan will not require advance payments for the processing or administration of the loan. Be wary of any request for money before receiving the promised loan.
Condusef also warns about “vishing,” where scammers make calls pretending to be banks to offer deferrals of loan payments under fraudulent pretexts.
- Only respond to calls from banks if you have previously requested information about support or payment deferrals.
- Do not provide personal or banking information over the phone unless you are sure of the legitimacy of the call.
In times of economic uncertainty, it is crucial for Mexican consumers to protect themselves from fraudulent practices when seeking financing. By following these tips from Condusef, You can significantly reduce the risk of falling into financial fraud and protect your assets.
For more information on how to avoid financial fraud, visit the Financial Fraud Portal of Condusef or contact the Condusef Call Center at 55 53 400 999.
Always remember to verify the authenticity of financial institutions before committing to any type of express loan.
