Wisconsin Better Business Bureau warns of phone scams

MILWAUKEE (CBS 58) -- The Wisconsin Better Business Bureau is warning consumers about a phone scam in which callers pose as representatives from loan processing companies to steal personal information.

Lisa Schiller from the Wisconsin BBB discussed the issue when she joined us on Monday, Feb. 3.

Scammers claim they need to verify details such as income to finalize a loan application, often providing a fake application ID to appear legitimate. The BBB has received more than 100 reports of this scam in January.

Officials advise verifying a company’s legitimacy before sharing personal information and reporting suspicious calls to BBB Scam Tracker at BBB.org/ScamTracker.