Sunday, September 20, 2020

How To Identify CRB Scams

    September 20, 2020   No comments

Transunion CRB Kenya
Transunion CRB Kenya 

Credit Reference Bureaus (CRB) are companies licensed by the Central Bank of Kenya (CBK) to store financial data for both individual and companies as they interact with lenders.

For an individual to access his or her  information from the CRB, the company asks for some charges. For example,  a Clearance Certificate will cost ksh 2,200.

For this reason, there are some fraudsters claiming to be providing these services too by posing as the licensed CRBs while others claim to do crooked ways to remove individuals from the CRB blacklist.

Transunion Kenya is one of the licensed CRB and sometimes back shared a very helpful article about how you can avoid CRB scammers. Read;

BEWARE OF CREDIT REFERENCE BUREAU SCAMS!

Scams Used by Fraudsters:
1. Pay a sum of money and get your bad debt records stored in     CRB Deleted.
2. Pay and we shall temporarily lift out your bad recordsuntil your other loan application is processed.
3. Pay Ksh.2,200 via a mobile number (Not PaybillNo) and get your CRB clearance.

Scenario 1: Promise to Delete your CRB Record
Target: Customers whose loan applications have been rejected.
Scam: The fraudsters pretend to be employees of TransUnion and they call vulnerable consumers to pay a sum of money to get your bad debt records stored in CRB Deleted.

Scenario 2: Promise to temporarily lift bad records
Target: Customers whose loan applications have been rejected.
Scam: The fraudsters ask for payment with a promise to lift bad records from CRB records temporarily to allow the potential lender to pull the credit report.

Correct Position and Remedy
According to the CRB Regulations 2013: “33. (1)A Bureau shall retain customer information on nonperforming loans— (a) until the expiry of five years from the date of final settlement of the amount in default including settlement of the amounts payable;”

Scenario 3: Pay Ksh.2,200 and get your CRB clearance
Target: Job seekers who apply for ANY job adverts on the Newspapers.
Scam: The fraudsters call applicants pretending to be employees of TransUnion. Pay Ksh.2,200 via a mobile number (Not PaybillNo) and get your CRB clearance sent to you.

Correct Position and Remedy
TransUnion, we only have two paybillnumbers for payment: 807400 or 212121 for payments.
Remedy: In case you have been conned by such fraudsters, send an email narrative to: M-pesafraud@safaricom.co.ke




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Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

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