Not only that, but loansharks will also ask you to sign a misleading contract, often without clarifying important aspects or giving you a copy of it. Being persistent about offering you a loan is another characteristic of deceiving conduct. Many people fall into the trap of illegal lenders because they promise easily accessible loans. Unlike licensed moneylenders, loansharks will try to convince you to contract a borrowing via unsecured communication channels, such as text messages, email or phone calls. Unfortunately, these loansharks easily infiltrate communities, causing harm, so it is important to report any suspicious activities to the authorities.