Belgian regulator warns against online credit scams

By Irene Madongo (January 21, 2022, 14:27 GMT) — Belgium’s Financial Services and Markets Authority has warned against shell companies asking people to pay processing fees for credit transactions in advance but which vanish into thin air when the payments are made.

Belgium’s watchdog said on Thursday it had recently identified 36 fraudulent lenders offering credit to consumers in the country online. People approach lenders by email, on social media platforms such as Facebook or WhatsApp or through advertisements on the internet, the regulator said. Meta, formerly known as Facebook, has been contacted for comment.

The credit offers are false and are intended to appease…

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David A. Albanese