What it is
Impersonation apps, texts, and sites claiming preapproval or requesting money first.
Cost structure
Identity theft or advance-fee loss
Main concerns and tradeoffs
Do not reply to unsolicited loan texts or provide bank credentials. The FTC identifies these as common phishing and advance-fee patterns.
Evidence and verification
Classification and concerns are based on the primary source below. Product terms, availability, and company practices can change.
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