In major loan application racketeering case, Maharashtra police uncover China-Dubai links


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Pune: A major internet extortion ring using ‘lending apps’ has been uncovered by Pune city police, and its ‘masterminds’ are believed to come from China and Dubai, The Indian Express reported.
The Cyber ​​Police Station recently shut down two fraudulent contact centers in Bangalore while looking into two charges of online extortion against loan app operators made by victims in Pune. 18 people have been arrested so far in relation to the ring.

Police have found data on around one million Indian residents who may have been targeted by loan application scammers.

Meanwhile, police have seen an increase in offenses related to loan applications. According to the police, 699 reports of such offenses were made to cyberpolice stations in 2020, and 928 were made the following year.

As of August 2022, 3,151 cases of people being harassed by loan application employees have been reported to the Cyber ​​Police Station.

Amitabh Gupta, the police commissioner of Pune, told a press conference on Friday that in the previous two months, 25 complaints related to loan applications had been registered on average daily.

According to the police, the customer receives an immediate loan between Rs 500 and Rs 7,000 after downloading the application. Sometimes, even when program users do not apply for a loan, money is transferred to their bank accounts.

Within a week, loan application workers begin calling customers and requesting repayment of the loan with interest rates ranging from 30% to 300%. If repayment is not made, agents edit photos of loan application users to include explicit material and distribute it to others on their contact list.

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