Scammers are taking aim at consumers, as a new report says loan scam calls are on the rise in Wisconsin. Photo by freestocks on Unsplash Photo by freestocks on UnsplashHow This Loan Scam Works - What To KnowConsumers are getting phone calls offering fake pre-approvals for loans and that is where the scam beings. Instead, these calls are simply meant to gather personal information on the person who answers the phone. The scammer says they can offer a loan in the tens of thousands with low interest rates below six percent. It all sounds too good to be true, which is usually when you know it is a scam.