We are living in an age of rapid digital growth, with more people turning to online shopping and digital payments than ever before.While this progress is commendable, it has also created new opportunities for scammers. Through scam messages, phishing links, and malicious QR codes, fraudsters attempt to steal sensitive data and financial information.

In particular, they have been targeting individuals seeking personal loans. To protect consumers, regulatory agencies, banks, and financial institutions are regularly issuing warnings through emails and text messages, urging people to stay cautious and avoid falling victim to such fraud.

Here are seven major red flags that borrowers should watch out for to protect themselves from loan scams.

Upfront Fee Or Payment Demand

If a lender asks fo

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