Fundtrace logo

Acta Loans Blacklisted for Conducting Loan Scams

Acta Loans is a loan-giving company proclaimed to have redefined the term “fast processing.” 

A unique online submission form is shorter than competitors because it only asks pertinent questions, and the entire process takes a few minutes only to complete. Most lenders do not require faxing, so you could be approved from the convenience of your own home. Fill out the request form, and Acta Loans will connect you with lenders who can help with all situations and credit scores. If approved, your lender may deposit funds directly into your account within the following business day. Loans may not be obtainable in all states, so you should check to see if they are available in yours.

Nobody enjoys filling out lengthy, time-consuming forms, which is why Acta Loans keeps its procedure as brief and straightforward as possible. The request form will request personal information from you, but rest assured that the website uses the highest levels of security, including SSL and encryption. You must be at least 18 years old, a US citizen or permanent resident, and have a  Social Security number and a driver’s license to apply for a loan. They will also ask for your bank account details for routing and electronic transfer purposes. 

Personal loans can be highly beneficial if you need to cover an unexpected expense. You must, however, assure that you are working with a legitimate lender and not a con artist looking to take advantage of your circumstances. If a lender approaches you first, does not demand a credit check, or makes an offer that appears too good to be true, you may be the victim of a personal loan scam. Scammers can be challenging to spot, whether they are after your money, your identity, or both. Similarly, Acta Loans recently got blacklisted. Read this article to find out why Acta Loans got blacklisted and were there any loopholes.

Is Acta Loans Legit?

Acta Loans

We can’t safely call Acta Loans legit due to the many scams it has been involved in. Here are the warning signs that prove that you may be dealing with a loan scammer rather than a reputable lender and these were ways that Acta Loans employed too.

Requiring an Upfront Payment

The Acta Loans team may have insisted that you send them money before receiving the loan funds. In some cases, upfront fees for a loan may be legitimate, but in several cases, this fees is a fraudulent attempts to rob you off. 

The scammer will almost always ask you to pay with a method that is challenging to trace and impossible to reimburse, such as wire transfers or prepaid cards.

Requesting Personal Information

This one is tricky because legitimate loan companies will often require you to provide a Social Security Number (SSN) for a confidential credit check and an Employer Identification Number (EIN) or Taxpayer Identification Number (TIN) for a business credit check when applying for a loan. 

Your bank account number may be needed to verify revenues or to process ACH payments. When asked to provide personal information, ensure that you are dealing with a reputable company and using a secure website. Acta Loans abused this information for its users.

Lock Privacy Settings

Loan Approval Despite Credit

Acta Loans frequently claimed that users have been approved for a loan despite having a poor credit score and failing to meet standard qualifications. 

Most lenders will have some essential creditworthiness criteria based on personal or business credit. While some types of small business financing are available to business owners with bad credit, the costs associated with these options are often higher.

Perfect Loan Terms For a Newly Established or Struggling Business

Most business loans require a combination of high revenue, 1-2 years in business, and good credit. 

If you do not fulfill these conditions, you are unlikely to qualify for most small business financing. You may be dealing with a scammer if someone calls you and promises you financing at low-interest rates. Acta Loans was the same way; everything seemed too good.

Bank Account holder

Checking With the Better Business Bureau

Among the various methods for determining whether a loan company is legitimate, go to the Better Business Bureau (BBB) website and look up the loan company. Even if the loan company has a digital presence, this does not guarantee that its operations are not predatory. 

To understand whether the lender is worth working with, visit the Better Business Bureau website. Acta Loans is a company that is not BBB accredited.

Why Did Acta Loans Get Blacklisted?

A blacklist in the United States results from a company or group engaging in unethical or offensive behavior. It can harm a person’s or company’s credibility and goodwill, weaken commercial and client connections, and cause financial hardship. 

Although most governments have blacklists of untrustworthy companies and suppliers, the threat of blacklisting is considerably more frequently employed than the actual action. This is especially true when it comes to international commercial disputes.

Once found out about their loan scams, Acta Loans got blacklisted. Here are the types of scams they do that lead to the company being blacklisted.

Crime Blog

• Advance-Fee Loan Scam

Do you need to borrow money to pay for auto repairs, credit card debt consolidation, or to pay your mortgage? Acta Loan promises to get you a loan, credit card, or credit access in an advance-fee loan scam. 

They promise to put you in touch with a lender who will almost certainly be able to get you those things, regardless of your credit history. But first, they insist, you must pay in advance. The money could be a fee for “processing,” “insurance,” a “application,” or something else, according to the scammer. But this is a lie. There is neither a loan nor a lender. And if you pay, both the scammer and your money will vanish.

Acta Loan‘s advance-fee loan scams target people with bad credit or who have difficulty getting a loan for other reasons. Scammers often post ads online or call with these ostensibly great deals. Many people buy lists of people who have searched for or applied for payday or other loans online. Acta Loans scam lenders may claim you’ve been approved for a loan. But then they tell you that you must pay them before you can get your money. That is a ruse. Any upfront fee that the lender wants to collect before giving the loan is a red flag, especially if it’s for “insurance,” “processing,” or simply “paperwork.”

Acta Loans would contact you and offer you loans or other forms of credit. However, telemarketers are illegal to promise you a loan or additional credit and then demand payment before they deliver. (This is stated in the Telemarketing Sales Rule.)

Got credit

• Phishing Scams

With the rapidly increasing number of internet and smartphone users, so has the number of scams and fraudulent activities targeting them. 

Financial frauds primarily target vulnerable people, such as the elderly or the financially illiterate, but no one is immune to their devastation. Data phishing is typically carried out by fraudsters posing as financial service providers ranging from well-known banks to companies peddling and enticing new offers.

The standard way people are targeted in loan-app scams related to phishing is through false representation. Acta Loans representative posing as a representative of your bank or financial service provider may visit your workplace or business or contact you via SMS, email, or phone and request sensitive details such as your card number, PIN, and OTP. If you give them these details, they will gain access to your accounts and begin stealing your money through transfers or transactions. 

In some cases, Acta Loans fraudsters will create web pages that look exactly like the websites of financial institutions. Unless you look closely, you may be deceived into entering your details onto a fake page, giving them access to your accounts.


• Debt Settlement Loan Scams

If you have already taken out a loan from a reputable bank or NBFC, you may receive a call from Acta Loans promising foreclosure and full repayment in exchange for a small fee. This may be a scam. Most banks and NBFCs would rather avoid an early settlement.

Debt relief service scams prey on people with a lot of credit card debt and falsely promise to negotiate with their creditors to settle or reduce their payments. These businesses frequently charge cash-strapped customers a hefty upfront fee but fail to assist them in relaxing or lowering their debts – if they provide any service. Some debt relief scams even advertise their services to consumers on the Do-Not-Call List via automated “robocalls.”

If you have been scammed through an online loan, then contact us to get your money back!

• Government Loan Scam

Government impersonators frequently call or email you, claiming to be from a federal or state government agency. 

They will insist that you provide personal information or money immediately or face serious consequences. During the pandemic’s peak, government scams expanded to include vaccination offers, phony COVID cures, and expedited stimulus checks.

This scam advertises via the internet, phone, and newspapers like the advance fee loan scam. Acta Loans, for example, claims to be able to guarantee a government grant or loan in exchange for a fee. Victims are told to send money to cover ‘insurance’ on the promised grant or loan. They will usually request that the funds be sent overnight or courier services or by wire so that no trace of their identity or location is left. They then give the victim information that can be found in any library or ordered directly from the government.

Government Grants

• Home Equity Loan Scam

Home equity refers to the value of your home less the amount you owe on it. You can borrow money from a lender by using the equity in your home as collateral. 

Home equity lending fraud occurs when Acta Loan convinces a homeowner to take out a loan they don’t need, is more significant than they need, or has higher interest rates, fees, and monthly payments than they can afford. If the homeowner falls behind on payments, the lender has the right to repossess the property.

• Loan Repayment Scam

Acta Loans’ fraudsters often use a company name similar to a current loan company. They send letters proclaiming the recipient missed a repayment deadline and now owes the initial debt plus a ‘penalty charge’ of additional money.

The victim pays the ‘debt’ to the con artists, only to discover that they still owe the total amount to their outstanding loan company.

repayment loan

What do People have to Say About Acta Loans?

We contacted a few individuals who had a run with Acta Loans. Here is what they had to say, and why you should avoid Acta Loans in the future. 


“My recommendation to anyone is to stay away from Acta Loans and to never approach them.” Several of these businesses have taken advantage of me.”


Acta Loans contacted me in June of this year. No, I would not advise anyone to use them. They’re simply interested in seeing you spend every last penny you have. They sputter, talk over you, and are aggressive. I’ve signed up with Funds Trace to see if I can get any assistance in recovering my money.”


“Hello, As a result of my involvement with Acta Loans, I lost a significant amount of money. They are now claiming that if I pay their fee first, they will release the funds to me, but I have little faith in their legitimacy, so they will not receive any funds from me.”


Funds Trace Can Solve Your Problem!

Checking if a loan company is legitimate can save you money and potentially your business if you’re looking for capital to grow your business. 

As you consider these suggestions and learn where to look to compare legitimate lenders, you’ll be able to get the assistance you require without fear of being taken advantage of.

Knowing how to spot common loan scams can help you avoid identity theft, protect your personal information, and safeguard your hard-earned money. Suppose you suspect or are a scam victim. In that case, the Consumer Financial Protection Bureau (CFPB) recommends immediately reporting the crime to the local police department and state attorney general and filing a complaint with the Federal Trade Commission.

Some companies can help you recover your funds. Instead of going through the hassle of finding a lawyer or waiting for police feedback, the best thing you can do is contact a funds recovery company like Funds Trace. So, what are you holding out for? Don’t hesitate to reach out if your personal information has been stolen. Contact Funds Trace immediately to get your money back as soon as possible.

Table of Contents

Share this article
Leave a comment