CashNet USA Collections and Legal Department – Loan Collection Scam

Date Posted: Friday, July 15, 2016

The Washington State Department of Financial Institutions (DFI) warns consumers that before doing business with a financial institution, company, or individual, they should make sure that the entity is properly licensed. Consumers are urged to verify license status prior to giving the financial institution, company, or individual any nonpublic personal information, such as social security number or bank account number or access.

DFI received a complaint indicating that a “Collections and Legal Department” purporting to be directly from CashNet USA contacted a consumer via email about the collection of a loan. The email contained what appeared to be payment amounts for a “lawsuit” and “court restitution.” The email then instructed the consumer to respond within 48 hours or further action would commence.

Email address included in the email: [debt.cashnet@gmail(.)com]

Be advised, the DFI has no evidence that indicates THAT THE PARTY OR PARTIES INVOLVED WITH THIS EMAIL COLLECTION SCAM IS ASSOCIATED WITH CNU of Washington LLC d/b/a Cash Net USA, a licensee under the Check Cashers and Check Sellers Act.

Those perpetrating this scam are not licensed by DFI nor registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.

Debt Collection Laws

Collection activities by third parties are subject to the federal Fair Debt Collection Practices Act (FDCPA).  If you receive a communication from a party claiming that a debt is owed, you should request a “written validation notice,” which must include the amount of the debt, the name of the creditor you owe, and your rights under the FDCPA.  If you have questions regarding debt collection laws please contact the Federal Trade Commission at 1-877-FTC HELP or online at www.ftc.gov(link is external).

Report Fraud

If you feel you have been the victim of a scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov(link is external); or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372) or online atwww.consumerfinance.gov(link is external).  If the scammers already have your bank account information, social security number, or other nonpublic information, you may be a victim of identity theft and you should take appropriate precautions. The Federal Trade Commission (FTC) has information for victims of identity theft available online at www.ftc.gov(link is external).

If you feel you have been the victim of a scam involving the internet please contact the Internet Crime Complaint Center online atwww.ic3.gov(link is external).

If you feel you have been the victim of a financial scam and are concerned about your personal financial information, contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC’s website at www.ftc.gov(link is external).

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