{"id":467779,"date":"2022-06-26T17:30:24","date_gmt":"2022-06-26T14:30:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sketchy-tiktok-ads-push-high-interest-payday-loans\/"},"modified":"2022-06-26T17:30:24","modified_gmt":"2022-06-26T14:30:24","slug":"sketchy-tiktok-ads-push-high-interest-payday-loans","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sketchy-tiktok-ads-push-high-interest-payday-loans\/","title":{"rendered":"#Sketchy TikTok ads push high-interest payday loans"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a30aa2e52cf5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a30aa2e52cf5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sketchy-tiktok-ads-push-high-interest-payday-loans\/#%E2%80%9CSketchy_TikTok_ads_push_high-interest_payday_loans%E2%80%9D\" >&#8220;Sketchy TikTok ads push high-interest payday loans&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSketchy_TikTok_ads_push_high-interest_payday_loans%E2%80%9D\"><\/span>&#8220;Sketchy TikTok ads push high-interest payday loans&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>A group of secretive TikTok advertisers are using sketchy tactics to push massive loans that experts say could run afoul of deceptive advertising laws, The Post has learned.<\/p>\n<p>Some of the ads tease \u201calmost instant\u201d five-figure deposits despite bad credit, while others <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to imply they are part of government \u201cinflation programs\u201d and use the logos of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> organizations like CNN. <\/p>\n<p>Cash-strapped borrowers who click on links in many of the ads are asked for sensitive personal information, including their <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security and bank account numbers. <\/p>\n<p>\u201cAt best, these videos are designed to make you give up information that you shouldn\u2019t that will result in more solicitations,\u201d John Breyault, vice president of advocacy group the National Consumer League, told The Post. \u201cAt worst, this is a complete scam designed either to take your money or information for fraudulent purposes.\u201d\u00a0<\/p>\n<p>One typical TikTok lending ad opens with a shot of the words \u201cUS Government Inflation Program 2022\u201d over a video of the US Capitol.\u00a0<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-03-2.jpg?w=532\" alt=\"@LavishFinances TikTok ad for a loan\" class=\"wp-image-22811158\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-03-2.jpg?quality=75&amp;strip=all&amp;w=1064 1064w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-03-2.jpg?quality=75&amp;strip=all&amp;w=798 798w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-03-2.jpg?quality=75&amp;strip=all&amp;w=532 532w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-03-2.jpg?quality=75&amp;strip=all&amp;w=266 266w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-03-2.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 532px) 100vw, 532px\"\/><figcaption>Some ads appear to imply they are part of government \u201cinflation programs.\u201d<\/figcaption><figcaption><span class=\"credit\">TikTok<\/span><\/figcaption><\/figure>\n<\/div>\n<p>\u201cUS government inflation program helps Americans get a loan, even with bad credit,\u201d a voiceover says in somewhat broken English. \u201cYou can get up to $50,000 just filling simple form.\u201d\u00a0<\/p>\n<p>The ad then cuts to a shot from the perspective of a person holding stacks of hundred-dollar bills in a car.\u00a0<\/p>\n<p>\u201cI\u2019m using my money to cover my bills, get some gas for the rest of the year and cover my medical needs,\u201d the voiceover says. \u201cClick the link below, fill the form in as little as 60 seconds and see how much you can get. Thank me later.\u201d\u00a0<\/p>\n<p>People who click the link, which leads to a site called \u201cLavish Finances,\u201d are asked to fill out forms with personal information including bank account details, Social Security numbers and addresses.\u00a0<\/p>\n<p>Lavish Finances says that it then forwards applicants\u2019 information to lenders, who can respond with loan offers with annual interest rates of up to 35.99% over terms of up to four years.\u00a0If someone were to take out a loan under the sites\u2019 maximum terms \u2014 $50,000 paid back at 35.99% APR over four years \u2014 the user would ultimately be on the hook for more than $137,000.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"631\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-11-1.jpg?w=1024\" alt=\"TikTok logo\" class=\"wp-image-22811161\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-11-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-11-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-11-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Experts say TikTok advertisers\u2019 sketchy tactics to push massive loans could run afoul of deceptive advertising law.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Breyald said that the loans being advertised by Lavish Finances and similar sites are \u201cterrible\u201d for the vast majority of consumers.\u00a0<\/p>\n<p>\u201c35.99% APR is higher than some of the highest credit card loans out there,\u201d he said.<\/p>\n<p>Both Breyault and Bartlett Naylor, a financial policy advocate with consumer rights group Public Citizen, said that the ads risk violating Federal Trade Commission rules on deceptive advertising.\u00a0<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"530\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-01.jpg?w=530\" alt=\"@Loanssy TikTok ad for a loan\" class=\"wp-image-22811162\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-01.jpg?quality=75&amp;strip=all&amp;w=1060 1060w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-01.jpg?quality=75&amp;strip=all&amp;w=795 795w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-01.jpg?quality=75&amp;strip=all&amp;w=530 530w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-01.jpg?quality=75&amp;strip=all&amp;w=265 265w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-01.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 530px) 100vw, 530px\"\/><figcaption>Other ads use the logos of news organizations like CNN.<\/figcaption><figcaption><span class=\"credit\">TikTok<\/span><\/figcaption><\/figure>\n<\/div>\n<p>\u201cIf it\u2019s implied it\u2019s a government program and you click on and it\u2019s not a government program, my advice is: You\u2019re being scammed,\u201d Naylor said, advising people to \u201cstay away\u201d and calling on TikTok take a harder line against personal loan ads. <\/p>\n<p>After The Post contacted TikTok for comment on ads from Lavish Finances and other companies, the social media site took them down due to violations of its advertising policies, which ban \u201cmisleading, inauthentic, and deceptive behaviors.\u201d <\/p>\n<p>\u201cAdvertisers and ad content must follow our Community Guidelines, Advertising Guidelines, and Terms of Service, and content that violates these guidelines will be removed,\u201d a TikTok spokesperson told The Post. <\/p>\n<p>When The Post emailed the only available email address on the Lavish Finances website for comment, the messages bounced back. A phone number listed on the site went straight to a voicemail box, which was full. The Lavish Finances site lists an address for a building in Dover, Del., that sells \u201cvirtual office services\u201d for $50 per month. \u00a0<\/p>\n<aside class=\"single__inline-module alignleft\">\n    <\/aside>\n<p>The FTC said that it does not comment on \u201cwhether it is investigating any specific company, individual, or business practice.\u201d The agency has not announced actions against any of the sites in this article, but it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2016\/10\/ftc-charges-operators-scheme-used-fake-government-affiliation-sell-commercial-trucking-registration\">does<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ftc.gov\/business-guidance\/blog\/2020\/09\/fake-government-affiliation-name-game-no-one-should-play\">frequently<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ftc.gov\/business-guidance\/blog\/2018\/10\/ftc-sues-american-immigration-center-claiming-false-government-affiliation\">sue<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2016\/10\/ftc-charges-operators-scheme-used-fake-government-affiliation-sell-commercial-trucking-registration\"> <\/a>companies the agency says are falsely claiming to be affiliated with the US government.\u00a0<\/p>\n<p>Lavish Finances is far from the only advertiser to use dubious techniques on TikTok. An ad that links to a site called PersonalLoanPro shows what appears to be a fake CNN segment. It flashes \u201cBREAKING NEWS\u201d that \u201cAMERICANS CAN NOW CLAIM UP TO $50,000.\u201d\u00a0<\/p>\n<p>\u201cThey\u2019re showing it again,\u201d a man says as he points at a TV showing the segment. \u201cThis is how I got my money.\u201d\u00a0<\/p>\n<p>The camera then flips around to the man\u2019s face as he says, \u201cA new benefit just got released last week, allowing Americans to claim up to $50,000. You don\u2019t need any credit history at all \u2014 no bank requirements. I did it myself and I got $8,000 in two days.\u201d\u00a0<\/p>\n<p>A similar Facebook version of the video was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.politifact.com\/factchecks\/2022\/may\/23\/facebook-posts\/its-not-true-new-benefit-gives-americans-50k-relie\/\">slapped<\/a> with a \u201cFalse Information\u201d warning in May \u2014 but as of mid-June, it was still being advertised on TikTok without any disclosure.\u00a0<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"528\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-02.jpg?w=528\" alt=\"@Loanssy TikTok ad for a loan\" class=\"wp-image-22811169\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-02.jpg?quality=75&amp;strip=all&amp;w=1056 1056w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-02.jpg?quality=75&amp;strip=all&amp;w=792 792w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-02.jpg?quality=75&amp;strip=all&amp;w=528 528w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-02.jpg?quality=75&amp;strip=all&amp;w=264 264w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-02.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 528px) 100vw, 528px\"\/><figcaption>Some loan sites ask people to enter sensitive information including their Social Security numbers.<\/figcaption><figcaption><span class=\"credit\">TikTok<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Other ads that link to PersonalLoanPro feature various narrators gushing about receiving cash through the site.\u00a0In one, the text \u201cGot $45,000 almost INSTANTLY\u201d appears onscreen as a female narrator walks up to a man and says, \u201cBabe, where\u2019d you get all that money?\u201d\u00a0<\/p>\n<p>The man shows an online banking account on his phone and says, \u201cIt\u2019s actually insane. I just got a $45,000 loan and it\u2019s already in our bank account.\u201d\u00a0<\/p>\n<p>In another ad, a male narrator sitting in a car holds up wads of hundred dollar bills and gushes about a loan being the \u201clast minute miracle I absolutely needed.\u201d\u00a0<\/p>\n<p>Like Lavish Finances, PersonalLoanPro asks people to enter sensitive information including their Social Security numbers. It says it will then refer them to lenders who may offer them loans with interest rates of up to 35.99% APR over terms of up to 15 years.\u00a0<\/p>\n<p>\u201cBasically they say something like, \u2018Nobody else knows about this, I wish I\u2019d know about this sooner\u2019 \u2014 and they show you stacks of cash,\u201d Breyault said. \u201cit\u2019s laughable on its face, but it\u2019s a common tactic.\u201d<\/p>\n<p>PersonalLoanPro\u2019s site says it is owned by a Durango, Colo.-based company called On The Barrelhead. Email inquiries sent to both PersonalLoanPro and On The Barrelhead went unanswered, while a call to a phone number from On The Barrelhead\u2019s site went straight to voicemail.\u00a0\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/26\/sketchy-tiktok-ads-push-high-interest-payday-loans\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Sketchy TikTok ads push high-interest payday loans&#8221; A group of secretive TikTok advertisers are using sketchy tactics to push massive loans that experts say could run afoul of deceptive advertising laws, The Post has learned. Some of the ads tease \u201calmost instant\u201d five-figure deposits despite bad credit, while others appear to imply they are part&#8230;<\/p>\n","protected":false},"author":1,"featured_media":467780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/tiktok-ads-high-interest-loans-comp-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[130674,70784,70875,71101,47912],"class_list":["post-467779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-26-22","tag-advertising","tag-ftc","tag-scams","tag-tiktok"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/467779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=467779"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/467779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/467780"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=467779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=467779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=467779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}