The next time you get attracted to mobile applications offering loans in a jiffy with no paperwork- Beware you could not only land yourself in trouble but also entangle your friends and relatives into a web of threats, abuse, blackmail and extortion. The cyber-cell unit of the Mira Bhayandar-Vasai Virar (MBVV) police has arrested two people including a woman for their alleged role in the arm-twisting tactics of e-financial fraud via such apps.
The action followed in response to a complaint filed by a 26-year-old woman who stumbled upon the money lending facility and availed of instant loans amounting to Rs. 2.4 lakhs in small values by downloading such applications. Despite paying off the loans along with interest, she started getting abusive phone calls from recovery agents who demanded more money by trapping her into a debt cycle.
“To malign the image of the borrower and squeeze more money, the scamsters even called up their friends and relatives. The contact data is accessed when the prospective borrower downloads the applications and grants permissions.” said a police official while adding a note of caution to avoid downloading dubious applications or clicking any suspicious/ unsolicited links.
The money trail and a detailed probe by the cyber cell to ascertain the origin of the company behind such applications led to the arrest of two people including a 50-year-old woman from Thane for their alleged involvement. A case under the relevant sections of the IPC and Information Technology Act has been registered against both who have been remanded to custody.
The MBVV police have been getting complaints from traumatised victims who are being abused in a similar manner. Most of these applications which offer instant loans operate sans registration or recognition by the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC). The Kashimira police are conducting further investigations into the case.
