Do you also keep your eyes on the ads of Instant Loan App, then read this news is special

Online Loan Fraud: To avoid giving documents and information to take loans in banks, people keep looking for instant loans. If you also pay attention to the app to take an instant loan available on mobile, then wait, think once or else you can get into big trouble. The Cyber ​​Cell of Mumbai Police has busted an international gang who cheated through simple and instant online loan app. The police have arrested 14 people from different cities of the country, who were involved in this fraud. The mastermind of this thug gang are two Chinese nationals, who are absconding.

The number of instant loan borrowers has increased during the Corona period

Troubled by the financial crisis during the Corona period, lakhs of people across the country took easy loans through online apps. But after failing to repay the loan with huge interest, the lenders hacked the data from their phone contacts and started defaming them by sending messages to their home and identity. Actually, the condition of taking loan from these apps includes the condition of allowing full rights on your mobile phone.

People get stuck in this way by taking one time loan

These gangs used to charge manifold more money for a loan of a few thousand. In the event of non-payment of money, the morph photos of the borrowers used to go viral and started threatening on the phone. Many people complained to the police but the police kept ignoring the matter by calling it a civil matter. But when the water started going above the head, the then Home Minister of Maharashtra Dilip Walse Patil ordered Mumbai and Maharashtra Cyber ​​to take action against it. It was busted due to the tireless work of Mumbai Cyber ​​Cell and finally 14 accused related to online app loan have been caught.

Mumbai Police opened the secret

Joint Commissioner of Police Crime Suhas Warke of Mumbai Police said, “In the investigation of cyber cell, it has been found that the masterminds of this online app are two Chinese nationals who are currently absconding. In the year 2018, both of them planned this fraud and made agents in India, for which the help of an Indian woman was taken as a translator. Then call centers were created and different apps were created and lucrative publicity was given to give easy loans. Later the same call centers were used to threaten and extort the borrowers.

There was a lot of fraud after the Corona period

During the Corona period, when it became difficult to pay EMI due to the shutdown of income of many people, then settle your EMI or other important work with the easy loan through this online app. But what did they know that they are getting trapped in such a Chinese trap where money and respect will have to be put at stake. The loan at cheap interest cost him so much that he had to repay several times the amount taken. Threatening those who could not give, calling their family and friends to slander them, not only this, some people even threatened to do morph photos viral photos.

Had to pay five times the price for the loan

A complainant at Mumbai’s Cyber ​​Police Station said that he took a loan of Rs 3.15 lakh through the online instant loan app. Instead of three and a half lakhs, he had to repay the loan of 15 lakhs. Loan app used to get small amount loan. If the repayment was not received on time, there was a threat of defamation on social media. Personal photo gallery, camera access was available on downloading the loan app. There was a threat of defamation by morphing the photo.

In this, each group engaged in cheating was given different work. In this, 350 bank accounts have been frozen in which the amount is 14 crores. 2.17 lakh USDT crypto currency has been seized. 50 crypto wallets used. More than 300 crores money was cheated and the number of victims could be in thousands. Mumbai Police said that the gang’s strings are spread abroad.

money sent abroad

According to an estimate, the gang has sent about Rs 350 crore to its master mind sitting abroad through online app loan. It has also been found in the investigation that the money required to give the loan was sent from abroad through hawala. But for sending back abroad, many layers were created by first sending it to different UPI accounts so that the investigating agencies could not identify the real account holder. Even after that, those rupees were converted into crypto currency and sent to the mastermind. So far 14 people have been arrested in the case who are from different states.

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