Indian Authorities Busted Network of 100+ Chinese Loan Apps
New Delhi: The intelligence fusion & strategic ops unit of the Delhi Police cracked down on a Chinese loan app network and arrested 22 people in a two-month-long operation for allegedly extorting money under the guise of providing instant loans through their applications.
Fake Instant Loan Apps Scam
These bogus instant loan apps would ask users for permission to access their data and steal all of their contact information, chats, and photos.
The Delhi Police Cyber Cell busted an active gang of scammers who were running a fake operation of lending loans through fake mobile apps and extorting money back using sensitive personal data. Following a two-month investigation, Delhi Police arrested 22 people from New Delhi and other states who were associated with the gang, which, according to the police, was sending all of the money to China using cryptocurrency.
Indian Authorities Blocked 100+ Chinese Loan Apps
Over 100 malicious apps, which have now been blocked, were used to syphon off crores in various states while also stealing people's data. DCP KPS Malhotra stated that Chinese entities were directly involved.
"The accused had 51 mobile phones, 25 hard discs and nine laptops containing large amounts of data, 19 debit and credit cards, three cars, and Rs 4 lakh cash" DCP Malhotra said.
The cops began investigating after receiving hundreds of complaints at the National Cybercrime Reporting Portal that instant loan applications were disbursing loans at exorbitant rates and forcing people to pay large sums of money even after the loan was repaid.
People who had taken out small loans of Rs 5,000 to 10,000 were forced to repay in lakhs. An examination of the application code, call details, and financial data revealed that the network was spread across Delhi, Karnataka, Maharashtra, Uttar Pradesh, and other parts of the country.
Indian Authorities Busted Network of 100+ Chinese Loan Apps.
Indian Authorities Blocked 100 loan apps for extortion of Rs 500 Crores from Public.
Who were the kingpins?
Zixia Zhang and Luo Rong were the main operators of the racket. Cops have also zeroed in on two other suspects, Zoya and Kobe Bryant, who have claimed to be the victims. Cops have their passport information and are looking for them.