Mumbai: Maha Cyber issues advisory on loan scam by fraudsters

The Maharashtra Cyber has issued an advisory and requested the citizens to be vigilant of a new type of financial scam where loans are offered online in the name of reputed financial institutions and banks. While continuously and effectively working to stop the rise and growth of online cyber crimes especially in the last 15 months of the pandemic, a research team discovered the fraudsters have created false websites in the name of reputed financial institutions and banks.

In the cyber vigilance of the last few months during the pandemic times, it was seen that a number of fraudsters and antisocial elements had created fake

During the Covid-19 pandemic and lockdown period, websites of bank and financial institutions, luring people with the promise of loans and later duping them, a Maharashtra Cyber official said.

In one of the scams, a gang had asked people to fill up their forms on a website and then contact them. The citizens who are in need of the money thinking its genuine advertisement either call the number displayed on the website or fill details, following which they would talk to them, coax them and then ask them to make payments or deposits, on the pretext of paying processing fees to clear loans, thereby duping them.

Soon after the payment is made, the call is disconnected and the victim neither gets any money or loan nor is the phone from which the victim was contacted traceable. An official said that many such cases came to the fore, it was deemed necessary to issue an advisory asking people to verify logos and other details of financial institutions if they are applying for loans online.

People have also been asked to visit the nearest branches of banks before applying for loans to get proper information for their safety, and contact the local police immediately if they fall victim to cyber frauds, the official added.

Points to remember when on the receiving end of such calls--

Always check the website details carefully.

Check for logo, URL website spelling whether secured or not (HTTP or HTTPS).

Check with the nearest local branch or any personal connect if any of the reputed Financial Institutions or banks in reality provide such loans.

Ask for information like Employee ID, Official email ID and contact details.

Register such findings at

File the complaint at the local police station, and also file a complaint with the Banks or Financial Institutions whose names have been misused.

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