Posts on Facebook pages with names like KWFT LOAN and KWFT online LOANS invite women to join the Kenya Women Microfinance Bank to get loans of KSh100,000 or more.
The posts are all poorly written, with almost identical wording.
“Join kenya women KWFT today and qualify for a loan of up to Ksh 100,000 ,within 10 minutes.With 6.0% interest rate p.a. No Paper Work, No Delays, Purely Online,” one reads.
“To apply kindly Submit your application, on our website.” They then provide a web link.
In July 2019 Africa Check exposed a scam set up by fraudsters posing as KWFT. These Facebook pages are also scams.
The links don't go to the bank’s website. Instead, they lead to a series of Google Forms where you can supposedly apply.
You are promised that if your application is approved, you’ll get the cash almost immediately.
But first, you have to pay a “membership fee” via M-Pesa mobile money transfer. This is how the fraudsters get their money. Any request on Facebook for a "fee" to be paid via M-Pesa is a sure sign of a scam.
We emailed KWFT to ask if the Facebook loan offers were the real deal.
“KWFT wishes to warn the public about fraudulent activities on Facebook and social media being perpetrated purportedly in the name of the Institution,” the bank said.
“Online accounts calling themselves KWFT LOANS KE, KWFT Bank Loans Kenya, KWFT Online Loans or KWFT LOAN being circulated via the Facebook social media platform and from internet websites are fraudulent, falsely stating that they are issuing loans in association with KWFT.” – Grace Gichuhi
The posts are all poorly written, with almost identical wording.
“Join kenya women KWFT today and qualify for a loan of up to Ksh 100,000 ,within 10 minutes.With 6.0% interest rate p.a. No Paper Work, No Delays, Purely Online,” one reads.
“To apply kindly Submit your application, on our website.” They then provide a web link.
In July 2019 Africa Check exposed a scam set up by fraudsters posing as KWFT. These Facebook pages are also scams.
‘Membership fee’
The links don't go to the bank’s website. Instead, they lead to a series of Google Forms where you can supposedly apply.
You are promised that if your application is approved, you’ll get the cash almost immediately.
But first, you have to pay a “membership fee” via M-Pesa mobile money transfer. This is how the fraudsters get their money. Any request on Facebook for a "fee" to be paid via M-Pesa is a sure sign of a scam.
‘Fraudulent activities on Facebook’
We emailed KWFT to ask if the Facebook loan offers were the real deal.
“KWFT wishes to warn the public about fraudulent activities on Facebook and social media being perpetrated purportedly in the name of the Institution,” the bank said.
“Online accounts calling themselves KWFT LOANS KE, KWFT Bank Loans Kenya, KWFT Online Loans or KWFT LOAN being circulated via the Facebook social media platform and from internet websites are fraudulent, falsely stating that they are issuing loans in association with KWFT.” – Grace Gichuhi
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