How to spot loan scams in Zambia
How to avoid loan scams in Zambia: the warning signs of fake lenders, how to tell a genuine fee from a scam, and how to check…
Read guide →How to spot loan scams in Zambia
How to avoid loan scams in Zambia: the warning signs of fake lenders, how to tell a genuine fee from a scam, and how to check a lender is registered with the Bank of Zambia.
Loan scams target people who need money quickly. Scammers pretend to be lenders, promise easy approval, and then ask for money or your private details. Here’s how to protect yourself.
Warning signs of a loan scam
- Fees that aren’t in writing. Genuine lenders may charge fees, but they explain them in writing before you pay, and you pay into the lender’s official company account. Be wary of surprise fees, fees paid to a personal mobile money number, or a new fee each time you’re told the loan is “almost ready”.
- Guaranteed or instant approval with no checks. Real lenders check your identity and income.
- Requests for your PIN or passwords. No genuine lender needs your mobile money PIN.
- Pressure to decide now. Scammers push you to pay before you can think.
- No company details. No registered company name, physical address or contract.
How to check a lender is registered
Lenders offering loans to the public in Zambia should be licensed by the Bank of Zambia. The Bank of Zambia publishes lists of the financial institutions it has licensed on its website, bank.org.zm. Before you borrow, check the lender’s full company name against that list, and check the company is registered with PACRA.
If you think you've been scammed
Stop sending money, keep any messages or receipts, report it to your mobile network and the Zambia Police, and tell the Bank of Zambia.
How Ornix Credit keeps you safe
Ornix Credit is a trading name of Ornix Corporate Ventures Limited, registered in Zambia (No. 120261054943). Any fees we charge are explained in writing before you pay and are paid only into official Ornix Credit accounts. We never ask for your PIN, and we show you the full cost and a written agreement before you sign.
Looking for a fair loan in Zambia?
See exactly what you'll pay before you apply.
Keep reading
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Read guide →How to spot loan scams in Zambia
How to avoid loan scams in Zambia: the warning signs of fake lenders, how to tell a genuine fee from a scam, and how to check a lender is registered with the Bank of Zambia.
Loan scams target people who need money quickly. Scammers pretend to be lenders, promise easy approval, and then ask for money or your private details. Here’s how to protect yourself.
Warning signs of a loan scam
- Fees that aren’t in writing. Genuine lenders may charge fees, but they explain them in writing before you pay, and you pay into the lender’s official company account. Be wary of surprise fees, fees paid to a personal mobile money number, or a new fee each time you’re told the loan is “almost ready”.
- Guaranteed or instant approval with no checks. Real lenders check your identity and income.
- Requests for your PIN or passwords. No genuine lender needs your mobile money PIN.
- Pressure to decide now. Scammers push you to pay before you can think.
- No company details. No registered company name, physical address or contract.
How to check a lender is registered
Lenders offering loans to the public in Zambia should be licensed by the Bank of Zambia. The Bank of Zambia publishes lists of the financial institutions it has licensed on its website, bank.org.zm. Before you borrow, check the lender’s full company name against that list, and check the company is registered with PACRA.
If you think you've been scammed
Stop sending money, keep any messages or receipts, report it to your mobile network and the Zambia Police, and tell the Bank of Zambia.
How Ornix Credit keeps you safe
Ornix Credit is a trading name of Ornix Corporate Ventures Limited, registered in Zambia (No. 120261054943). Any fees we charge are explained in writing before you pay and are paid only into official Ornix Credit accounts. We never ask for your PIN, and we show you the full cost and a written agreement before you sign.
Looking for a fair loan in Zambia?
See exactly what you'll pay before you apply.
Keep reading
More loan guides
How to spot loan scams in Zambia
How to avoid loan scams in Zambia: the warning signs of fake lenders, how to tell a genuine fee from a scam, and how to check…
Read guide →What is microfinance?
What is microfinance in Zambia? How microfinance and micro loans work, who they help, and what to look for in a microfinance lender in Lusaka and…
Read guide →How to check your credit score in Zambia
How to check your credit score and credit report in Zambia, what lenders look at, and simple ways to improve your credit history before you apply…
Read guide →