An Online Payday Loan Or Window To A Scam?

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Strapped for cash? You might think an online payday loan is a quick and easy way to help stretch your money. But before you enter your bank account or any other personal information on a payday loan website, back away from the keyboard! That online payday loan might be a window to a scam.

A federal court has granted the FTC an order for contempt in the matter of Suntasia Marketing, Inc., a company previously involved in a telemarketing scheme that bilked consumers out of millions of dollars. This time around, the scammers took advantage of people looking for online payday loans by tricking them into completing an online application. The catch? The website and application were a pretense – an attempt to get people’s bank account information. Once the company had their account numbers, they enrolled unaware consumers in an ongoing membership program for an online mall. But because the terms of the program were obscure and buried deep in the website, there was no way for the consumers to know. And the company took their silence and failure to cancel as acceptance and permission to regularly debit money from their accounts on a regular basis.

So how can you avoid a scam like this one? It can be tough. But knowing how some scam operators work can make you think twice about the sites you visit and what you do when you get there.

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