How it works:
|Example scam from Facebook|
A random person on the Internet offers you a loan, over Facebook or Email. The loan offers extremely low rates, and promises that since it's not a bank, only a few documents are needed, and that they lend to anyone regardless of credit.
Once you express interest, you'll be asked to provide some basic information. They may or may not ask for information which can be used in identity theft, such as Social Security number, or bank account numbers.
Eventually, you'll be asked to pay some sort of "processing fee". In fact, you'll probably find yourself being requested one fee after another, until you finally realize that you're being scammed.
It's very unfortunate that this scam targets those who are already having financial difficulties - because it ends up making their situation even worse.
It's important to make your friends and family aware of these scams, so that they don't fall for one of these scams.