Washington State Department of Financial Institutions

Consumer Alert

Advance Fee Scam Alert - Fidelity Financial Credit Source

January 14, 2008

Fidelity Financial Credit Source solicits victims over the telephone. The company contacts via telephone people and tells them that they are approved for a loan, but due to their credit history, the individual will need to wire a security deposit upfront via Western Union prior to obtaining the loan. The individual is told that after the deposit is received, the loan will be automatically deposited into their account within four or five hours. The money never appears in the individuals account. If the consumer contacts the company regarding the absent funds, the company may ask for additional funds for an allocation fee or other previously disclosed fee.

This appears to be an advance fee loan scam. Consumers should never forward money in order to obtain a personal loan.

Individuals who contact the company may be given an address of 11 Penn Plaza, New York, New York 10001. This address has no known affiliation with the company. Fidelity Financial Credit  Resource has no office in the state of Washington, which we have been able to locate. The company is not licensed by the Department of Financial Institutions and is not listed with the Washington Secretary of State or the Departments of Licensing, Revenue or Labor and Industries to do business in Washington.

Victims should report their experiences to the Internet Fraud Complaint Center at www.ic3.gov.

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