Loan fraud case: 3 held in Mumbai and 21 apps under investigation

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Mumbai: As part of their investigation into the 21 loan app fraud incidents that have been reported throughout the city this year, the cyber police of the Mumbai Police Crime Branch have detained three individuals.

The initial arrest was made on June 25; the police had already made two additional arrests by Monday.

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If the loanees did not repay, the man asked his aides to start the harassment. Based on his questioning, we arrested two more people. Our investigations are on," DCP (Cyber)Hemraj Singh Rajput said.

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The authorities believe that since last year, thousands of people in Maharashtra who were in desperate need of money had been taken advantage of by predatory loan apps that offered quick, cheap loans.

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According to the police, upon approving borrowers for loans through the app, the lenders would want access to the borrowers' phone contact list and gallery as well as copies of their Aadhaar and PAN cards.

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Loan collection agents allegedly harassed borrowers who did not repay the loan within weeks at a higher interest rate and sent rude and lewd messages to persons on the borrower's contact list.

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To extort money, they allegedly sexually harassed the borrower and their family members and even altered images of the borrower with nude photos and obscene recordings.

According to the authorities, the agents frequently extorted far more than the loan amount.

The cases are being looked into by about ten police inspectors from four cyber police stations of the cybercrime branch.