Sanlam warns against false loans offers

Several emails are making the rounds purporting to offer consumers a loan from Sanlam at the rate of 2.5%. It tells potential borrowers to open an attachment and to apply through replying to the email directly. It asks for an upfront payment and also encourages blacklisted individuals and commission earners to apply as well.

When Justmoney contacted Sanlam about the loan and email, the company warned that all consumers to avoid all invitations for personal loans from companies or individuals who request an upfront payment in order to process the loan. This is not the first time that Sanlam has warned about the scam and issued a warning about it in May 2016.

The company admitted that fraudsters are using the Sanlam brand along with legitimate-looking email addresses to invite applications. In some instances, the offer comes from a false entity called “Sanlam Loans” using the email address sanlamsloan@cash4u.com. In the past, the false offer was sent using email address sanlamloans@financier.com.

The fraudulent offer has also promised a “Home Loan of up to R1 000 000” at a fixed interest rate of 2.5% per annum over and above other personal and business loans. When approached about this Sanlam stressed that it does not home loans. The company added that other offers request consumers to complete an ‘acceptance form’ and submit their bank details for a debit order deduction.

Piet van der Walt, head: Sanlam Retail Credit and Transactional products, warns that such offers are not legitimate and are not linked to Sanlam.

“Sanlam’s loan offer is managed through Sanlam Personal Loans (Pty) Ltd, a registered credit provider. We will never ask consumers for an upfront payment in an application or to issue a loan. Whenever this happens consumers should see a red flag and call Sanlam Personal Loans on 0861 44 00 44. The call will be escalated to the fraud department and relevant law enforcements agencies will be notified.”

Van der Walt says sophisticated crime syndicates have, in the past, tried to exploit the challenging economic climate by tempting people with low interest loans.

Sanlam’s Forensic Investigation unit is aware of the fraudulent scam and is working closely with the police.

To avoid falling victim to the Sanlam email scams take note of the following:

• Sanlam will never ask a client for any upfront payment to process a loan application.
• Spelling and linguistic errors in communication with clients may indicate a scam invitation.
• Some scams may even use the names of actual employees of the brand and have people who answer their telephones.
• If you’re uncertain about an offer that you think could be from Sanlam, the company invites you to verify the information by calling it directly on 0861 44 00 44 or visit the Sanlam website at https://www.sanlam.co.za/personal/personalloans