Beware Of This Loan Scam Circulating In Wisconsin

This might be the least surprising thing ever! Scammers are taking aim at consumers, as a new report says loan scam calls are on the rise in Wisconsin.

Scammers will do just about anything these days. In fact, earlier this summer, they were even targeting pet owners who were seeking their missing animal. That is simply a new kind of low and is absolutely awful.

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In June, a new report put all of these scams into perspective. The Wausau Police Department shared that they had seen a HUGE uptick in scams - to the tune of 100 percent! That is insane.

Now, there's another scam to be aware of in Wisconsin and this is a sneaky way to try to get your personal information.

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How This Loan Scam Works - What To Know

Consumers are getting phone calls offering fake pre-approvals for loans and that is where the scam beings. The calls are made using AI, but makes reference to current events happening in the world to make it seem legitimate.

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The calls do not go into details other than knowing the name of the person they are calling, never naming an actual lender or bank. Instead, these calls are simply meant to gather personal information on the person who answers the phone.

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After you answer the phone, scammers say that they have 'reviewed your file' which is obviously not true - because there isn't one! They then also mention an approval letter for a pre-approved loan, according to a local report.

RELATED: Minnesotans That Get This Text Should Not Respond - It's A Scam!

The scammer says they can offer a loan in the tens of thousands with low interest rates below six percent. They also give you a monthly estimate. It all sounds too good to be true, which is usually when you know it is a scam.

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Scammers also say this is a limited-time deal and we all know creating urgency is another way to decipher a scam from a real call. If you don't have a number, experts suggest sending the call to voicemail so if it is a scammer, they don't know your number is active.

Stay safe out there! And check out these tips from the Wisconsin DATCP: