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Unfortunately, several Brazilians have already identified the so-called Bolsa Família loan scam, which puts many at risk of losing money to fraudsters.
These criminals target individuals in greater socioeconomic vulnerability, deceiving them with promises of generous loans with minimal interest, leading them into a trap.
To protect yourself from such schemes, it is crucial to recognize the tactics used in these scams and be ready to alert the authorities when you notice something suspicious.
Read also: Bolsa Família beneficiaries receive a new benefit
In this post, we provide details on this issue. Keep reading.
How does the Bolsa Família loan scam work?
Scammers use two main strategies in the Bolsa Família loan scam. Let us understand both:
Data verification tactic
The data verification scam occurs when the criminal contacts the victim requesting various pieces of information to “confirm” the loan.
For example, they may claim that the victim will receive a loan of R$ 5,000, but must provide personal details and even their Caixa Tem password to confirm it.
Enticed by the amount, the victim may provide the requested information.
However, once the criminal has these details, they break into the individual’s account and carry out unauthorized transactions, seeking to divert all of their funds.
Remember: reputable institutions will never ask for your password!
Advance fee tactic
Another common method is charging an advance fee to release the loan.
Here, the scammer may claim that the victim must make a small payment, giving it an air of legitimacy, in order to receive the loan amount in their account.
The excuses vary: guarantor approval fees, interbank transfers, registration, among others.
Scammers use countless arguments to convince the victim. However, paying a fee before receiving a loan makes no sense, right?
How can you protect yourself against this scam?
As noted, the Bolsa Família loan scam has two approaches. Therefore, it is vital to remain vigilant.
Read also: How to Check Bolsa Família on the Citizen Portal
Always be wary of offers that seem too good to be true.
It is also essential to protect your information. Never share sensitive data, such as passwords or card numbers, especially with strangers.
It is worth noting that banks or financial institutions will never ask for this information to grant loans.
If you suspect anything, contact the local authorities to confirm the legitimacy of the offer.
