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IFC warns of fake Internet loans scam targeting SMEs

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International Finance Corporation regional director Eastern Africa Jumoke Jagun-Dokunmu. FILE PHOTO | NMG

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Summary

  • IFC says the fraudsters have set up fake websites, emails, loan application forms and URLs impersonating the private lender in Kenya and calling on businesses to apply for loans.

World Bank has warned that fraudsters impersonating the lender’s private lending arm International Finance Corporation (IFC) have set up an online fraudulent scheme to dupe small businesses in Kenya into giving private data.

IFC says the fraudsters have set up fake websites, emails, loan application forms and URLs impersonating the private lender in Kenya and calling on businesses to apply for loans.

The fraudsters have even created a fake Facebook post purporting to show that Sports Cabinet secretary Amina Mohamed lamenting that very few Kenyans had applied for the loan and urging people to make applications.

“In the past few weeks, IFC, a member of the World Bank Group, has been the subject of cybercrime attacks from unknown individuals and entities,” IFC said in a statement.

“The online scam seeks to lure entrepreneurs and small businesses in Kenya to reveal personal financial information and apply for 'IFC loans' by completing application forms found on these fake websites, that have since been taken down.”