SAN DIEGO, Jan. 17, 2014 /PRNewswire-iReach/ -- Millions of unsuspecting borrowers become victims of Machiavellian loan scams every single year. An average scam would run in the hundreds of dollars. Cumulatively, that would translate to hundreds of millions of dollar bilked out of unsuspecting consumers every single year. Extrapolate these numbers to even a shorter duration of a decade and we have billions of dollars in the realms of a sophisticated "fraud machinery". Unfortunately, the numbers continue to grow despite the widespread efforts of law enforcement personnel and the Federal Trade Commission's vigilance.
In fact, the FTC (Federal Trade Commission) recently conducted a survey and released shocking findings. According to the newly-released survey, advance-fee loan scams were the most frequently reported (perhaps at the top of the list) type of consumer fraud and nearly 4.5 million consumers (approximately 2.1 percent of the U.S. population) paid advance fees but did not receive the promised loan or card.
Given the widespread nature and prevalence of existing fraud schemes, http://www.Loans-Payday.com, a loans approval website, has released several potent and cutting-edge consumer protection mechanisms to protect both individual and business borrowers.
Recent changes to the site's already-secure infrastructure include:
Pre-approved network of lenders. Most loan scams originate from suspicious lenders. Accordingly, http://www.loans-payday.com/ has tightened controls to ensure highest standards of due diligence and allows only a pre-approved and fraud-screened network of lenders to originate loans to its customers and borrowers0.
Extremely secure site infrastructure and encryption mechanisms. The company has also taken extra precautions to ensure the site uses only the highest industry standards in encryption and data transfer and storage technology.
Fraud prevention specialists. A team of experienced fraud prevention specialists constantly monitor lending activity within its network. The team works with both lenders and borrowers to ensure any suspicious activity is curtailed immediately.
24/7/365 monitoring. Finally, a dedicated team of customer support specialists man a 24/7/365 operation to ensure customers receive one-on-one support every time there is a need.
"We take loan fraud very seriously. Despite the widespread prevalence of loan scams, we have maintained a near hundred percent secure infrastructure for over fifteen years. Clear lack of complaints is a stellar testimony and a compelling track record that borrowers can rely on. Despite our accomplishments, we continue to drive continuous improvement to ensure our infrastructure remains just as secure in the future as it is today," says Maurice Chandler, CEO and founder of Loans-Payday.com.
Loans-Payday.com is a state-of-the-art service providing fast online loan applications and approvals to both individual and business borrowers. The site has been in existence for over fifteen years and under the leadership of a dedicated team of loan specialists and a robust network of lenders, provides millions of dollars in short term loans for a variety of needs, from cash advance and payday loans to car loans and medical emergencies. Its recently unveiled infrastructure features sophisticated mechanisms to prevent fraud and protect consumers from loan scams.
For more information and to apply for a short term loan, visit Loans-Payday.com.
Media Contact: Maurice Chandler, I.D.S International inc, (646) 257-4131, email@example.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com