Loan fraud and identity theft: reporting and recovery steps

Act on exposed money and identity information separately

If a loan offer appears fraudulent, stop communicating through the suspect channel and contact the bank or payment service using its verified contact details. Explain what was transferred and what information was disclosed. Save the advertisement, agreement, messages, account details and receipts before removing anything from a device. Reporting quickly may help institutions respond, although it cannot guarantee that a transfer will be recovered.

Preserve evidence before deleting suspicious messages

The Canadian Anti-Fraud Centre sets out reporting steps, including contacting local police and the organisations affected by identity misuse. Contact both credit bureaus about protective measures and examine the files for unfamiliar enquiries or accounts. TransUnion provides consumer support, and Equifax explains its dispute process for inaccurate information. Continue checking correspondence and statements after the initial report; a stolen identity may be used later. Be wary of follow-up offers demanding payment to recover losses or erase fraudulent debts automatically.