Claiming to be supervised by the Commission, these 11 loan offerors request advance payments from people applying for loans that are never materialized. They will be reported to the Public Prosecutor's Office.

The Commission will also file charges before the Public Prosecutor's Office against four apps available on Google Play and other websites for alleged usury.

August 21, 2023 - The Financial Market Commission (CMF) alerts the public about a series of entities offering loans that are neither supervised by the Commission nor registered in its rolls.

According to information gathered by the CMF's Investigation Unit, these entities offer loans through their websites or social media while requesting advance payments from applicants. After making said advance payments, applicants never receive the agreed funds.

Therefore, the CMF will file charges against any responsible parties before the Public Prosecutor's Office for alleged fraud. The identified entities are:

• An impersonator of Oriencoop (oriencoopchile dot com)
• An impersonator of Bit Corredores de Seguros y Créditos SpA which operates via WhatsApp and promotes itself of social media.
• Mutualista Asociación en Ahorro (mutualistaasociación dot com)
• Creinstante, also known as Créditos al Instante (creinstante dot online)
• Adquiérelo Ya (adquiereloya dot com)
• An impersonator of Corinvest S.A. which operates via WhatsApp and promotes itself on social media.
• Súper Finanzas Chile (superfinanzaschile dot info)
• Rapidlend (rapidlend dot online)
• An impersonator of A5 Capital S.A. (a5capitalsa dot com)
• An impersonator of Federación de Cooperativas Abiertas de Vivienda Fecovip (cooperativafecovip dot com)
• An impersonator of Administradora Bancorp S.A. (bancorpsa dot cl)

The Commission will also file charges before the Public Prosecutor's Office against several mobile apps (iQuina, Mi Morlaco, Tiempo, and Yo Dinero) available on Google Play and other websites. These apps offer online loans with an interest exceeding the Maximum Conventional Rate, which constitutes alleged usury. Additionally, the CMF will report these apps to Google.

Recommendations

• The CMF does not make payments of any kind to natural persons other than for the provision of services to this Commission. Should you receive an email claiming to be from the CMF and asking you to access a link or provide your bank details, it is false.
• The CMF does not offer insurance policies of any kind, much less against "fraudulent purchases," nor does it request banking records.
• Fraudulent entities use bank accounts belonging to natural persons to collect money from their scams. This is an important sign to avoid being conned.
• Checking, vista, or RUT accounts are strictly personal and must not be made available to third parties to receive funds from unknown origins. Anyone who provides their bank account to third parties who commit a crime may be subject to criminal penalties.
• Use popular Internet search engines to find any complaints or negative feedback about companies through their name, their directors, and the products being considered for investment.

The CMF also reminds the public of a special alerts page for investors, policyholders, and banking customers available on its website. Interested parties can verify here whether an entity or person offering financial products or services is supervised by the Commission; review alerts issued by the CMF and other foreign regulators on unregulated entities or activities; and get important advice on how these scams operate.