Protect Yourself Against Fraud - “Phishing”
There are many different types of fraud that take place every day and it is important to protect yourself against such activity. One specific type of fraud is called “phishing” in which you might receive an email, text message or letter from an individual claiming to represent an organization to obtain personal, banking, and other sensitive information from you. In these instances, the communication is requesting that you either verify your identity or banking information. Please DO NOT respond to these types of messages as they are intended to scam you out of money and/or to commit identity theft.
How Do I Recognize Phishing?
These messages appear to be legitimate as they often contain details such as the logo and address of the institution. The communication will request that you verify personal information, such as your bank account, or request payment for a specific service or product.
It is important to look at the email address, phone number and/or other corporate information within the communication to determine if it is fraudulent. Please be advised that all email communications from Lending Loop, Loop Financial Inc, Loop Funding Inc. and/ or Loop Securities Inc. will always have “@lendingloop.ca” as the respective domain name. If you notice the domain name has been altered in any way, including the use of mass email service providers (i.e. email@example.com, etc.), the email is fraudulent and should be deleted immediately.
Other communications may appear to be legitimate because the scammer has falsified the email address, but they are fraudulent because of the activity being requested. It is important to know the type of information typically requested by Lending Loop and the information or activities in which Lending Loop would NEVER request.
Lending Loop will NEVER request or offer the following information in a message:
Ask you to provide payment for your loan application
Request payment of any kind by gift cards
Advertise that you have been pre-approved or approved for a personal loan
Offer you a line of credit. At this time Lending Loop only provides term loans
Advertise loans to businesses incorporated outside of Canada
What Should I do if I suspect Phishing?
Please reach out to Lending Loop to verify any correspondence you have received either by email at firstname.lastname@example.org or phone at 1-888-223-5667.
If you have already contacted or have been contacted by the individuals fraudulently claiming to be employees of Lending Loop please consult this website: https://www.ontario.ca/page/report-scam-or-fraud.
If you have provided any personal information, we suggest you reach out to Equifax and place a fraud alert on your credit file. The steps to place a fraud alert on your credit file can be found here: https://help.equifax.com/s/article/How-do-I-place-a-fraud-alert-or-an-active-duty-alert.
If you have provided any banking information, we suggest you contact your financial institution and inform them of the potential fraud.
You may wish to report the phishing attempt. You can report the phishing attempt here: http://www.antifraudcentre-centreantifraude.ca/reportincident-signalerincident/index-eng.html.