Chinese fraudsters are scamming Indians using fake loan applications

Chinese fraudsters are scamming Indians using fake loan applications

New Delhi, Feb 19 In February last year, a woman lodged a complaint with Special Cell IFSO that she was abused and threatened by unknown persons and sent morphed and vulgar photographs to her family, friends and relatives. through social media.

The complainant took out a loan from a loan application called Cash Advance and paid it back on time. But after repaying the loan, Cash Advance employees received threatening calls and messages on WhatsApp.

It was not an isolated case, rather several Inds have recently fallen victim to high-end cyber crimes in which people are duped out of hundreds of billions of rupees every day.

A similar case was received by the Delhi Police Crime Branch where a man alleged that he and his family, friends and relatives were being harassed and threatened by unknown persons on international and domestic WhatsApp mobile numbers to repay the loan taken. same cash advance application.

In another case, when the police were investigating an internet fraud of just Rs 6,500 crore, they were shocked to learn that the bank account in which the cheated amount was deposited had daily transactions of Rs 19.43 crore.

The fact is that high-tech Chinese cybercriminals have developed a new strategy to deceive people and cheat Ind with fake loan applications.

According to a senior Delhi Police official, several cases of fraud have come to light in the past six months, which were eventually linked to Chinese cyber gangs.

Gullible Ind falls victim to the small amount of loans they get through these Chinese operated fake loan apps available on the Play Store every day.

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“These apps lend money instantly to any person who downloads these apps for a period of a few days. When the app is downloaded, the app requests access to the borrower’s phone’s contacts, photo gallery and other personal information,” said the police officer.

After taking out the loan, a part of the total amount is deducted as a management fee, and if the remaining amount is not paid within the prescribed period, the interest and penalty together amount to 200 percent of the loan amount.

If the money is not paid, call centers from neighboring countries such as Nepal threaten victims with leaking their personal information and making abusive comments about their contacts.

But there’s still a catch. Money cannot be transferred directly to international or Chinese bank accounts, so fraudsters need Indian bank accounts to make payments.

This is where Chinese fraudsters find vulnerable, poor and greedy people of the country to help them get Indian bank account details.

“They are looking for such people to arrange these types of bank accounts for them,” the officer said.

In one such recent case, an accused arrested by the Delhi Police revealed that he used Google Translate to translate Chinese messages into Hindi to communicate with Chinese cyber fraudsters. version was provided using Google Translator.

Disclaimer: This post was automatically published from an agency news feed without text modification and has not been reviewed by an editor.

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