If you receive a call from a loan processing company and the caller identifies themselves as Jessica, it may be a scam.
According to the Better Business Bureau (BBB), scammers are pretending to be representatives from loan processing companies to deceive consumers into sharing personal information, frequently using the name Jessica. This advanced-fee loan phishing scam typically manifests as harassing phone calls and voicemails. The caller will insist that they need to verify minor details, such as your income, to finalize your loan application. While the message may sound convincing, it is a ruse to steal your private information.
How the Scam Works:
- You receive a call or voicemail from someone claiming to be part of a loan processing team, often using a common name like “Jessica.”
- The caller states they have been attempting to contact you regarding your loan application and require verification of some final details to complete your approval, even though you likely never applied for a loan.
- They provide a callback number and an application ID to make the message appear legitimate. The voicemail emphasizes urgency, requesting that you call back before a specific deadline to finalize the loan.
The BBB has reported over 500 Scam Tracker notifications about this scheme across the United States between November 2024 and January 2025, illustrating that scammers are aggressively targeting consumers. Many individuals report receiving multiple calls per day, often from different phone numbers but with nearly identical voicemail scripts. In reality, there is no loan, and returning the call could lead to scammers collecting sensitive information, such as your Social Security number, bank account details, or other personal data.
Tips to Avoid a Loan Processing Phishing Scam:
- Verify the company’s legitimacy: If you receive a call about a loan application you don’t recall submitting, hang up and research the company. Look up the company name online and contact them directly using verified contact information.
- Never share personal information with unsolicited callers: Scammers often request details such as your Social Security number or bank account information. Avoid sharing sensitive information over the phone unless you initiated the call.
- Watch for red flags in voicemails: Be cautious of messages that lack specific details, use generic names, or include urgent demands for a callback. Scammers often rely on scripted messages to target as many people as possible.
- Avoid calling unknown numbers back: Resist the urge to call back unknown or suspicious numbers, as this could connect you to scammers or result in unexpected fees.
- Check for scam reports: Look up the phone number or details of the voicemail online. Many victims share their experiences to help warn others.
The BBB advises reporting any suspicious activity to the BBB Scam Tracker at BBB.org/ScamTracker.
