Mastering Internal Controls and Fraud Prevention How Vendors Cheat You  Loan scams  Ask your company’s bank first—if it refuses, find out what is needed to reverse the decision  Be cautious of unsolicited offers—do not believe loan ads regardless of credit problems  Get all loan terms in writing before signing, including payment schedule and interest rates  Watch for red flags of a scam, such as: Upfront processing fees Application fees First-payment fees