Wefinances Bank (wefinances.online)
Is Wefinances Bank Fake or Real?
Why is Wefinances Bank Fake?
Wefinances Bank (wefinances.online) is a website that claims to be a virtual bank that handles online payments, online banking and loans. The site seems to be operating an Advance Fee Scam as I was asked if I wanted to purchase a ‘withdrawal code’ for $200 by the person manning the site’s chat support.
The supported payment methods are Skrill, CashApp, Netteller and Bank Transfers, all of which are unsafe payment methods as refunds are virtually impossible, even though they falsely claim that the money is refundable.
The scammers operating this site are so amateurish that they could not even spell ‘Wefinance’ correctly in the chat system and always type in all caps. This hints that the site may be a front run by scammers from Africa.
After publishing this article, I received a message on Facebook from a person from Pakistan who was trapped in a scam involving Wefinances Bank. They saw an advertisement for a work project in a Facebook group. After completing the project, the employers – Chidi Akadu and Cameron Darviz from Nigeria – instructed the person to create an account with Wefinances Bank to receive the payment of $1,300. Wefinances Bank then asked the person to pay $200 to receive the IMS code.
This victim lost $20 to the scammer but I was able to prevent them from sending the rest of the $200. The scammers refused to give the $20 back even though they claim the money is refundable. Therefore, this is clearly an Advance Fee Scam and Wefinances Bank is a fake bank created to scam online workers.
*End of Update *
The website quality is extremely poor and seems to be operated by investment scammers as it contains random references to forex trading. Such nonsense is common with fake sites created by uneducated scammers. The website is rife with bad spelling and grammar, indicating that the website is not operated by native English speakers.
A domain name lookup of the website shows that it was registered on 17th December 2022. The registrant’s details such as name and contact details have been hidden using a privacy guard. Therefore, wefinances.online is a new website that is being operated anonymously from an unknown country.
Even though the site clearly did not exist before December 2022, the website footer falsely states that the site is active since 2021.
The website is poorly made and appears to be created using a cheap template. Wefinances Bank claims to be ‘subsidiary of Belfius Bank. Though Belfius Bank is a real bank based in Belgium, there is no evidence that Wefinances Bank is associated with it. Upon analyzing the website’s content, I found that all the text on the website has been copied and there are at least 38 similar websites, all of which are likely to be scams. The list of sites is given at the end of the article.
Wefinances Bank does not have a social media presence. There are social media buttons given on the website but they are fake as they lead nowhere. The phone number ‘+1 (319) 457‑4623’ has also been provided which may be fake or a virtual line that can be operated from anywhere in the world even though it appears to be an American number.
The Contact page contains no information except the address of a location on Massachusetts, USA. However, this address is fake as it actually the address of a department store. Therefore, there is no real way to contact Wefinances Bank and they do not have a physical location.
I could only find one review for Wefinances Bank online on Trustpilot. The reviewer has stated that it is a scam without going into further detail. If you want to share your review of this website, you can do so in the comments below or on my social media pages.
It seems quite evident that Wefinances Bank and the 38 similar websites are likely to be scams. There are several signs suggesting it is not a genuine bank. The website is new and is being operated anonymously, and there are several red flags such as falsely claiming to be a subsidiary of Belfius Bank.
Unknown owners are running the site since December 2022 and there is nothing to suggest that it is a legitimate business. The website owners are lying that the bank is active since 2021 even though the domain was registered in December 2022.
I discovered 38 other websites identical to Wefinances Bank and all seem to be scams. The Contact Us page mentions a fake address that is actually the location of a department store or Massachusetts. Wefinances Bank has no social media presence and fake contact details have been provided.
It is advisable to avoid dealing with Wefinances Bank or the 38 similar sites as there are no reasons to believe that they are genuine banks. They appear to be running an Advance Fee Scam involving ‘IMS withdrawal codes’ and only accept payments using unsafe, unrefundable methods.
Remember: If something seems too good to be true, it probably is.
To read about other Investment Scams, click here.
If you found this information useful, please consider supporting my work.
If you have been a victim of an investment scam, you can take the following steps:
- File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as ScamAdviser and TrustPilot.
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.
- Report the scam site to web filtering companies.
List of websites using the same content as Wefinances Bank
Disclaimer: This review is intended for information only and should not be relied on when making financial or business decisions. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch using the Contact Form.