Financing scam red flags every SME owner should know
Genuine lenders do not guarantee approval, ask for upfront fees to release a loan, or pressure you to decide immediately. Check the company on the official SC or KPKT list, use only official websites and apps, and walk away if something feels off.
- 1
Guaranteed approval
No regulated lender can promise approval before assessing you.
- 2
Upfront “processing” or “insurance” fees
Fees must come out of an approved loan or be clearly disclosed in writing, not sent to a personal account.
- 3
Contact only by WhatsApp, Telegram or social media
A real company has a registered address, a website and verifiable contacts. Verify before you share documents.
- 4
Pressure and countdowns
“Offer ends today” is a sales tactic. A good facility will still be there after you compare options.
- 5
Not on an official list
ECF and P2P operators are listed by the SC; online moneylenders by KPKT. Banks are listed by Bank Negara. Check before you engage.
- 6
Asks for banking passwords or OTPs
Never share internet-banking credentials, OTPs or let anyone remote into your devices. If scammed, contact your bank and the police at once.
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