Secondly, the transaction itself has some issues too. It is not just about the information that you provide to them. It is in this light that the lender should have some additional security layers and features that will protect them and even the borrowers as well. It is also true when paying the loan. If you are doing the payment electronically, then you should make sure that your bank information and details are not being stolen by somebody else. If you will let these to be stolen by other people, they might use it for unauthorized purposes.