The Belgium Financial Services and Markets Authority (FSMA) has warned consumers about unauthorized lenders promoting fake credit via the internet and social media, after identifying 40 new fraudulent operators targeting Belgian borrowers. The schemes typically involve unsolicited approaches through email or platforms such as Facebook and WhatsApp, or online advertisements, offering loans on unusually attractive terms such as large amounts, low interest rates and no creditworthiness checks. Fraudsters often present themselves as authorized lenders or registered credit intermediaries and may misuse the names or logos of well-known institutions, which the FSMA describes as cloned firm fraud. Victims are asked to pay purported up-front costs, such as insurance premiums, administrative fees or file handling charges, after which the “lender” disappears and recovery of the money is difficult. The FSMA published the names and websites of the 40 entities and urged consumers to verify authorization or registration, remain cautious of overly favourable offers, and avoid making payments where fees are requested before credit is granted.
Belgium Financial Services and Markets Authority 2026-02-11
Belgium Financial Services and Markets Authority warns against 40 newly identified online lenders offering fake credit to Belgian consumers
The Belgium Financial Services and Markets Authority (FSMA) has issued a warning about 40 unauthorized lenders promoting fraudulent credit schemes online, often involving unsolicited offers with unusually favorable terms and upfront fees, which result in financial loss for consumers. The FSMA advises verifying lender authorization and being cautious of offers that require payments before credit is granted.