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Beware of the Facebook page ‘Faulu’ impersonating Kenyan financial institution and offering loans

IN SHORT: This Facebook page is offering loans to users using the logo and name of a popular microfinance institution in Kenya. But beware, it is a scam.

The Facebook page Faulu offers loans to users to “complete a purchase or sort out an emergency”.

Some of its posts feature a link to a website with instructions on how to apply.

The page uses the name and logo of Faulu Kenya, a microfinance institution in Kenya. It claims to offer loans of up to KSh300,000 (about US$1,846) with instant approval and a repayment plan of up to 12 months. 

But is the Facebook page and its offers legit? We checked.

FauluLoans_Scam

Imposter Facebook page 

We clicked on the link in the post, browsed the website and discovered that we had to pay a registration fee of KSh390. The website claimed that the registration fee would be automatically refunded if we did not qualify. It said the money would be used to create an account for us and to monitor and disburse the loan.

This is a clear red flag. Most reputable lending institutions in Kenya rarely ask for an upfront payment before granting a loan – many build the cost of lending into the total amount paid to the customer. The claim that the fee is used to set up a customer’s loan account is false. Most accounts can be easily set up by customers for free.

Facebook allows public institutions such as Faulu Kenya to verify their pages on the platform. These pages carry a “blue tick” verification badge.

The institution's official Facebook page Faulu Kenya is verified and can be accessed from its website. The page in question is not verified. It is unlikely that the institution would run two Facebook pages at the same time.

The “page transparency” section of the institution’s official page shows that it was created on 18 July 2011 and has 37,000 followers. By comparison, the other page was created on 19 July 2023 and has 1,800 followers.

The page in question is fake and should be ignored.

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