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Advisory

We, at Redux Finance, work hard to prevent fraud and are committed to living up to our values so no compromise is made on the quality of talent we employ. We believe that fraud awareness is every individual’s responsibility.

1. Purpose

In India a large number of customers apply for Personal loans. Personal loan is a need based product and at times customer need it urgently or need a very large amount. There are large set of customers who are duped by so called agents while taking a personal loan. It has come to our notice that there are fraudsters who use Redux Finance name and trademarks in emails and on websites in an attempt to solicit fees from interested customers. Redux Finance accepts no responsibility for any loss or damage of whatsoever nature that maybe caused or brought about, directly or indirectly.

2. Methodology

• There are advertisements in leading news papers where fraudster might post that Redux Finance is offering loans to individuals at a very low interest rate. people normally get trapped for these amazing offers. these are nothing but loan scams. Depending on the situation, the targeted person may be invited to contact the fraudster by email or by phone. The goal of the fraudster is to be paid a fee for the so-called set up of the application. Targeted person should contact the fraudster at the telephone number or email id showed in the ad. It is appropriate to take note of that such telephone numbers or email ids are not of Redux Finance.

• The fraudster acting as your well wisher promising you loans on very reasonable terms obtains your personal details like your name, bank account information, identity proof, credit card number etc. They may then use your personal details for opening of fake accounts in your name or hand over the same to financiers for a good tip. Be warned, fraudsters may reuse this information for future illegal activities.

• Targeted person might be asked to pay money towards processing fees, charges, application fees, etc. Depending on the situation, the targeted person may be invited to contact the fraudster by email or by phone. The goal of the fraudster is to be paid a fee for the so-called set up of the application. The fee usually has to be deposited into a money transfer company. Once the payment is made, the funds are never released and the fees which have been advanced are lost.

Ways to identify Fraud Loan Offers sent through fraudulent emails or phone by Fraudsters:

• Brands are pretty serious about email. Legitimate messages usually do not have major spelling mistakes or poor grammar. Read your emails carefully and report anything that seems suspicious.
• Hover your mouse over any hyperlinks to reveal the actual URL and check that it is, in fact, the address stated in the email.
• Check if Company’s name and address mentioned on the mail is genuine
• Look at your URL bar. Secure sites always start with 'https' (rather than 'http') and have a little gold lock next to them. If you see the little gold lock next to a ‘'http' (rather than an ‘https’) you know it's a fraudulent site.
• Check if the email id of the sender ended with registered domain of Redux Finance e.g. "abc@reduxfinance.com”.