The Nebraska Department of Banking and Finance is warning Nebraska residents about two Internet-based companies offering personal loans to consumers.
A news release from the Department says Barstow Brokers claims to have an address in Omaha and First Liberty Financial Corporation claims to be in Lincoln. The Department has verified that the companies do not have offices at the addresses listed. Both companies require potential borrowers to pay fees between $200 and $1,500 in advance of funding any loan.
The Department urges consumers to exercise extreme caution when completing online loan applications which require personal information. Money is often not the only thing scammers are seeking; many are after personal information. With the application, the scammer has access to a consumer’s Social Security number, credit card numbers, and bank account information. These may not be the only companies allegedly conducting fraudulent activity. Other warning signs of lending fraud are being asked to wire the money, particularly if the wire is to an address outside the United States, and promises of low rates or instant approvals which entice consumers to apply. Report loan scams to the Nebraska Department of Banking and Finance.