To woo consumers and borrowers this festive season, many banks have been running festive offers. That's all very well, but trouble is not far behind. Out there are quite a few fraudsters who masquerade as loan providers. Here's their modus operandi: They put out attractive advertisements on the internet offering loans at reduced interest rates. They claim to offer you loans despite a poor credit score. Once you call them on the number provided, they ask for a processing fee. Once the fee is transferred, they stop answering calls. These are some classic warning signs of a bogus loan offers.