Alert! You could be a victim of a phone loan ‘app’ – KERALA – CRIME
THIRUVANANTHAPURAM: Beware of instant mobile loan offers that can ruin your reputation and financial stability. Cyberpolice uncovered the shocking details of obscure online financiers when a lady complained to police that offensive photos of her had been posted on social media.
If someone in your phone’s contact list has taken out an instant loan, your life could also be in danger.
The lady from Thrissur who filed the complaint had put her group photo in the office as her profile picture. A photo of her with a young man in the group photo started circulating.
Police summoned the young man and checked his mobile phone and found an instant loan app downloaded on the device. He had taken out a loan of 10,000 rupees twice and repaid it with interest. Yet they kept asking him for more money. Once the man refused to pay them, they started misusing his contact list numbers and other details.
When the man’s morphed photos were sent to his cell phone, cyberpolice realized the moneylenders were behind it all. The man had kept this a secret. Although two Delhi residents have been arrested, the scam continues.
Once the instant loan application is installed on the mobile, all the details of our mobile phone will be under their control. If a copy of our Aadhar card and pan card is given, the loan amount will be credited to our account. The payback period is between one week and six months at a rate of 20% to 40%.
Processing fees will vary from 10% to 25%. In case of non-payment, a fine of 3% will be charged.
The threat will start once we don’t pay the EMI. They will send messages to people on our contact list. Their photos and the photos in the mobile phones of the person who took out the loan will be shown on porn sites.
Many loan application companies operating from countries like China are trapping many Indian citizens. Some of these companies are Cash port, Rupay Way, Loan Cube, Wow Rupee, Smart Wallet, Giant Wallet, Hai Rupee, Swift Rupee, Fish Club, Yeya Cash, M Loan, Grow Tree, Magic Balance, Yo Cash, Fortune Tree, Super coin and red magic.
Most of these loan applications do not have the RBI non-bank financial company license. Never rely on these dodgy loan applications. If you are cheated, inform the police immediately.
INSTANT LOAN APPLICATION,
MOBILE CONTACT LIST,