BORROWERS URGED TO STAY VIGILANT

CREDIT union provider Home Credit Philippines is warning consumers of increasingly sophisticated loans-to-cash scams targeting borrowers during the Christmas season.

It is in this season when consumer spending typically peaks and fraud attempts surge.

Scammers have been approaching customers with pre-approved offers, posing as trusted agents and encouraging them to avail of a product loan and sell the device for quick cash

Some even offer to pay the down payment or process credit limits on the borrower's behalf.