Southern California Financial
Advance Fee Loan Scam
July 6, 2009
The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams.
Southern California Financial appears to be conducting an advance fee loan scam.
Southern California Financial has listed an address of:
674 Via De La Valle #102
Solana Beach, CA 92075
This does not appear to be a valid address for Southern California Financial. Neither the Washington State Department of Revenue nor the Office of the Secretary of State shows that Southern California Financial is authorized to do business in Washington. The company is not licensed by the Department of Financial Institutions.
How The Potential Scam Works
- Consumers apply for a loan on the internet
- Consumers are advised that they have been approved for a loan and are asked to provide loan documents and personal information, including social security number and pay stubs
- Consumers are instructed to send funds by money gram as a “deposit” for the loan and that after funds are received Southern California Financial will provide the loan funds
- Once consumers send the money no loan is ever made
- When contacting Southern California Financial inquiring about the loan funds, consumers may be asked to provide an additional “deposit”
If You Feel You're A Victim
If you feel you have been a victim of a potential advance fee loan scam, please contact the Federal Trade Commission at 1-877-FTC HELP (382-4357), or online at www.ftc.gov. Also, victims should report their experiences to the Internet Crime Complaint Center at www.ic3.gov.