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Windsor man reports fintech company scam

August 25th, 2016  |  Personal Finance

Paul Soulliere was looking to secure a $10,000 loan and after being turned away by the banks and other lenders he turned to Arlington Financial Group, an online lender more interested in taking money than giving it away. Insurance Business Canada reports that the first thing Paul was asked to do was pony up money for fees and insurance. WIndsor Police Constable Shane Miles warns customers that they “should be suspicious of financial companies that ask for money up front. A Google search should also be conducted to determine the standing of these companies with the general public and the [Better Business Bureau (BBB)].”

This simple tactic would have saved Paul a lot of money as the BBB review shows that Arlington Financial Group has a very poor review history, getting an ‘F’.

Successful scammers are master manipulators, preying on more vulnerable targets such as the elderly, lesser educated, new immigrants and those with lower incomes. Desperation and stress negatively affect our decisions, so be careful. If you’re in a tight spot and someone’s offering you an “easy way out” you should double or triple check everything you can about who you’re dealing with.