New Delhi: Instant loans through mobile phone apps and little difficulty was the trap set by scammers looking to take advantage of people in need of money. And as a result, users who only needed 5,000–10,000 rupees ended up paying lakhs of rupees.
The Delhi Police recently uncovered an extortion scheme that distributed loads at higher rates through rapid loan applications. Additionally, they kept utilising modified images of the users to demand money long after the loan balance had been paid.
A Chinese national’s involvement in the scheme has also been revealed. In connection with the case, 24 persons have been detained thus far, including Chinese nationals.
How did the racket operate?
Applications for instant loans were first created. The apps were malicious because they required users to grant access to their personal information in order to utilise them.
The Google Play Store, websites, and adverts all housed the programmes. Utilizing Google’s search engine optimization tools, the apps also promoted themselves.
Users that needed a little loan downloaded these programmes right away and gave them permission after a quick KYC (only uploading of Aadhar Card, PAN Card and a live photograph).
The loan was disbursed to the users’ bank accounts in a matter of minutes after they finished the aforementioned process.
After that, the scammers began using the users’ personal data. Applications that previously had access to all the data that was locked on phones began uploading user contact lists, conversations, and photographs to servers located both domestically and internationally.
Customers’ information was distributed to multiple gang components, including mule account holders, loan disbursing agents, recovery agents, image morphing, and threatening agents.
The customers then started getting calls from other numbers (purchased on fraudulent IDs), pushing them to pay an increasing amount. Additionally, threats were made using their distorted or offensive images.
Users who had been intimidated by the threats began handing the scammers money in several mule accounts. A client who was in desperate need of a minor loan of between Rs 5,000 and Rs 10,000 was observed to be made to pay even in lakhs.
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Police are looking into the situation
Numerous complaints had been made to the Special Cell’s Intelligence Fusion & Strategic Operations (IFSO) Unit, saying that rapid loan applications were disbursing loans at higher rates and even after loans had been repaid, they were still utilising modified sexual photographs to extort money.
After receiving the complaint, IFSO began investigating the NCRP accusations.
More than 100 such apps were revealed to be participating in the loan and extortion scam after the complaints were analysed. All of the apps were discovered to be requesting the user’s personal information. Personal information such as the user’s contacts, chats, messages, and photographs were accessed and then uploaded to servers both domestically and internationally.
The IFSO began taking action against such applications while keeping in mind how sensitive the situation was. 22 people were previously detained by the IFSO after cases were recorded on these applications.
According to the police probe, the network is widespread throughout the nation, including in Delhi, Gujarat, Uttar Pradesh, Maharashtra, and Karnataka. 22 persons were previously detained in connection with the case.
A Chinese national, who is the racket’s mastermind, and one Indian national were both detained as a result of more investigation into the case.
Yu Zhang (52) and Vineet Jhaver (38) have been detained by the police.
Three laptops, 13 mobile phones, 7 credit/debit cards, 2 hard drives, 4 sim cards, and 3 chequebooks were found during the raids.
For additional cues, the seized goods are currently being examined. The questioning of the arrested suspects revealed that they were acting on the orders of other Chinese citizens. Some of the applications were uploaded from China, according to the application analysis. Other Chinese nationals involved in these cases are having their identities confirmed, and searches are being conducted to find and apprehend them.
Through the accounts that Vineet Jhaver and Yu Zhang provided, more than Rs 150 crores have been diverted thus far. Additional research is being conducted, and efforts are being made to apprehend other members of this syndicate.
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