Possible Advance Fee Scam Using
First Priority Financial’s Name
July 23, 2012
The Washington State Department of Financial Institutions (DFI) received a complaint that a company was using the name First Priority Financial to conduct an advance fee scam. This company is using the number (509) 590-2388. No other contact information could be located.
The individuals posing as First Priority Financial offer personal loans to borrowers but require the borrower to use MoneyGram or WesternUnion to send money, usually $200-$300, to show they will be able to make payments on the personal loan. The borrower is told that the loan funds will be deposited into their bank account once the MoneyGram or WesternUnion payment is received. No loan funds are ever deposited. If the borrower contacts the scammers, they indicate that there was a hold up and an additional $200-$300 is needed to get it resolved. No money is ever deposited into the borrower’s account.
There is a legitimate company with the name First Priority Financial licensed by the Department of Financial Institutions under the Consumer Loan Act. First Priority Financial is not affiliated in any way with this advance fee scam.
DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the "Verify a License" feature on the DFI’s website at www.dfi.wa.gov/consumers/findcompany.htm.
If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357), or online at www.ftc.gov.
If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.
If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.