Scams Exposed…
Hello Friends, today I want to explain about the Scams Exposed.
Taking loans is quite a risky bit. People get trapped by taking unnecessary loans. Or they take loans without knowing whether they can repay them or not. This is how Debt Trap begins. Some people commit suicide due to the burden of loans. This is a classical scenario. But in this case, the company giving out loans cannot be faulted. There’s nothing illegal in such scenarios. But nowadays, there are some different loan-related problems. There are some apps where you take loans, and repay them, but even then, more money is demanded from you.
loan apps that blackmail you and threaten to publicly shame you. Threaten to send your morphed photos to your family. that’s the Scams Exposed This is being done by several Chinese Loan Apps. 2-3 months ago, news broke that Delhi police arrested around 22 people for sending rs. 5 billion to China. Through Hawala trading. The mastermind of the scam was an Indian guy, Anil Kumar. He was in touch with Chinese people based in China. Anil and his accomplices had employed about 150 people. This isn’t standalone news.
Over the last few months, several such instances have occurred where the police or the Enforcement Directorate arrested people related to the Chinese Loan Apps or confiscated millions of rupees. The police stated that Indians were hired. They were operating several shell companies, that had illegal call centers. This isn’t some petty theft or scam. Companies were properly registered at prior addresses using the identity cards of Indians. These companies had dummy directors, dummy seals, and digital signatures, they are linked to payment gateways, and they set up their call centers, and created apps for phones, only for frauding people.
interestingly, the system works so well, that there isn’t a single Chinese loan app, rather, there are several such apps in the market. the police have noticed several separate incidents of this taking place all across the nation. can fund all these apps on Google Play Store. they can have any weird name. When you download and install these apps on your phone, they ask for your phone number to log in. An average person in fire needs a loan. When these tools are installed on phones, they ask permission to access the contact list and photo gallery.
And then you upload copies of your Aadhaar card and PAN card to get the loan and enter your bank account details, After this, in most cases, these companies deposit some money into the bank accounts. They lend some money. Till this point, this might seem wonderful. But the problem begin a week later. A week later, the call the borrower and ask for loan repayment. they ask for an amount much higher than they gave as a loan. they have the borrower’s phone number, they send them text messages on WhatsApp, and if the money isn’t repaid, eventually, the messages turn into harassment.
People are blackmailed and threatened over WhatsApp. They threaten to lodge a police complaint or FIR. Many unemployed people are hired by these call centers, to do this job. If you still refuse to repay the loans, they start morphing your photos. They send your morphed photos to you, telling you they will publicly publish that for bringing a loan defaulter. In the Play Store reviews of these apps, you will often find people writing such reviews who went through the same thing.
The Chinese scammers weren’t working themselves, Not only the lives of thousands of people are ruined by these scams, but this hurts the Indian economy too. The victims of these scams are often, poor people. the Covid pandemic was a major reason that saw a huge boom in fake loan apps. But the question arises, how do we differentiate between scam loan companies and genuine loan companies? The simple answer to it is the RBI. All the digital lending apps in the country have to be compulsorily registered with the RBI. The lenders that are not registered with the RBI, aren’t allowed to lend money.
you can go check RBI’s website if the company lending you money is registered with the RBI, or not. if you come across such fake loan apps, not only protect yourself but save others too by reporting it to the RBI. Since we are talking about scams, another scam I’d like to tell you about is the scam in the comment section of YouTube. When you comment, these scammers often reply to your comments, through fake accounts. They create fake accounts using the name of the YouTuber.
Friends, beware of these things. So that you do not fall for these traps.
