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  • 2019-07-18 (xsd:date)
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  • Scam alert! Kenyan bank warns of fraudulent loan ads on Facebook (en)
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  • Since January 2019 the Facebook page Kwft LoansKenya has been inviting users to apply for emergency loans at the Kenya Women Microfinance Bank (KWFT). But it’s a money-making scam, as KWFT itself has warned . The latest post, from 9 July 2019, links to a website titled KWFT Mobile Loans. A notice on the home page says the loan will be approved within 30 minutes and the money sent via the M-Pesa mobile money service. Under the apply now tab, the site says loan applicants must have used mobile money services such as M-Pesa or Airtel Money for more than three months. The minimum loan is KSh2,000 and the maximum KSh300,000. Applicants to pay KSh390 But there’s a catch. Applicants must first pay a fee of KSh390, which will be automatically refunded if you do not qualify for a loan. The fee is used to confirm your credit history from the relevant lending organisations and therefore determine your starting loan limit, the site says . It then lists a five-step registration procedure: Go To MPESA menu Send Money Enter Number – 0716 919 592 ( Miss Cynthia – Chief Loans Officer ) Amount Ksh 390 Enter the MPESA reference number below for confirmation purposes. The wording is suspiciously similar to another five-step registration procedure in a job scam recently exposed by Africa Check. Second scam post links to Google Form The scam has also been published on a Facebook page called KWFT online LOANS. (In the comments section , a number of users are already complaining of being conned.) This post links to a Google Form with a similar registration procedure requiring a KSh350 fee. Africa Check has also exposed a large number of scams that misuse Google Forms, a free service that allows people to collect and organise information. ‘Consider this as fraud’ On 8 July 2019 Kenya Women Holding (KWH) issued a warning on Facebook that the posts were fraud, saying it had no such facility. KWFT is an associate company of KWH, now known as Echo Network Africa . Our attention has been drawn to a Facebook Post asking the public to apply for loans at KWFT-Bank which will purportedly be processed within 30 minutes, the warning reads . The public is advised to ignore this message as no such facility exists in our Bank. Please consider this as fraud. – Dancan Bwire (en)
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