Capital Financial Service - Advance Fee Scam

Date Posted: 
Tuesday, October 20, 2009

The Washington State Department of Financial Institutions is warning consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams.

Capital Financial Service may be conducting an advance fee loan scam. They have a listed address of:

4434 Boblett Rd.
Blaine, WA 98231

These addresses do not appear to be valid.

Capital Financial Service has listed a telephone number of (206) 426-5092. This number reaches a fax machine.

Neither the Washington State Department of Revenue nor the Office of the Secretary of State shows that Capital Financial Service is authorized to do business in Washington. The company is not licensed by the Department of Financial Institutions.

How The Potential Scam Works

  • Capital Financial Service advertises loans on Craigslist or other classified advertisement providers
  • Consumers apply for a loan
  • Consumers are advised that they have been approved for a loan and must send $100 to Capital Financial Service as “processing fee” for the loan and that after funds are received Capital Financial Service will provide the loan
  • Once a consumer sends the money, no loan is provided. The consumer is told that an additional payment must be made for an “insurance deposit”
  • Capital Financial Service will continue collecting miscellaneous fees but will not provide a loan
  • No loan is ever received

If You Feel You're A Victim

If you feel you have been a victim of a potential advance fee loan scam, please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov. Also, victims should report their experiences to the Internet Crime Complaint Center at www.ic3.gov.

Share This