Police Commissioner Cautions people not to Fall Prey to Mobile Loan App
Mangaluru: Police Commissioner Kuldeep Kumar Jain issued a press statement and cautioned people not to fall prey to fraud Mobile Loan Apps. The fake loan apps advertised on social media platforms are leading to a surge in criminal activities. Without knowing, people download such apps and fall prey to them. The accused offer loans at very low-interest rates and attractive repayment options.
The victims get lured into a debt trap through video calls and internet calls made from untraceable sources. The fraudsters convince victims that they are being communicated by recognized financial agencies.
They then collect the Bank details and personal details, including photographs of the victims, on the pretext of processing the Loan. The required loan amount is then remitted to the victims’ Bank account number. Once the amount is credited to the victim’s account, they fall into the debt trap. The cyber thugs operating such Dark Net start blackmailing the victims for loan recovery by sending obscene photos to their families which the accused do by remotely accessing the victims’ mobile phones.
The Loan app firms also use illegal predatory practices to recover loans from the victims by accessing their personal details. The victims also get threatened with dire consequences with personal harm. Finally, the victim ends up paying much more than what they had obtained as a loan. There are various China-based loan apps such as RUPEE HERE, CASHMO, LENDKER, HOPELOAN, PUNCHLOAN, ROCKON, LOANU, and CASHFULL which are fraudulently operating. In India, 600 fraudulent loan apps have been banned, but every day, new fraudulent loan apps find their way over social media platforms.
The police commissioner urged the people not to download fraudulent mobile loan apps. If people want to obtain a loan, they can approach the bank where they have their bank account.