Watch out, the next time you plan to download this easy loan app!

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Indore (Madhya Pradesh): If you run out of money and get an online application offering a loan without collateral with the simplest terms and conditions that will be provided to you easily, beware! You can be sucked into a whirlwind of fraud and deception in which fraudsters tear your pocket or defame you to the extreme.

Cybercrime in the city has gradually increased and now an average of 18 cases of online fraud and cheating are reported daily. However, fraudsters have now moved on to new methods of cheating on the lure of granting loans and syncing your device data. They use this data to blackmail a person even after a loan has been paid in full to extract more money from the loanees.

Deputy Commissioner of Police (Crime) Nimish Agrawal, in an interview with Free Press, said: “Cybercrime has taken on a new form and it is increasing rapidly. Despite many awareness campaigns by cops, people are still influenced by scammers and getting their money scammed.

Agrawal said that in loan scams, scammers download apps from playstore where there is no app authentication process and only app viruses are scanned. When the victim downloads the app, the app asks for a few permissions and then syncs the device data including phone numbers, photos, etc.

The apps have great loan deals that can convince a person. When a person applies for the loan, it is easily approved and the money is transferred to the person’s account. The amount of the loan remains very low, from Rs 2,000 to Rs 10,000 at high interest rates, ranging from 30% to 50%.

In this process, the lender gets all the valuable data of a person. And, when the loan is repaid by the person, the scammers approach him saying that they have to pay more interest or principal to the lender. If the person refuses to do so, they blackmail him saying that they will take strict action. Fraudsters threaten to share secret, personal photos of the person with their contacts that the app has synced from their phonebook. “In some cases, app operators have been reported to photoshop the victim’s photo with a pornographic image and push it to their contacts’ WhatsApp numbers,” Agrawal said.

Nimish Agrawal, DCP, Directorate of Crime | Photo FP

“This year, more than 3,000 cases of fraud have been reported so far, more than double the same time last year. The Crime Branch continually solved cases and tried to recover lost money from victims. As the cases increase rapidly, the police also solve as many cases as possible and arrest the accused. People should be vigilant before sharing details with an unknown person or downloading an app’

— Nimish Agrawal, DCP, Crime Directorate

Cybercrime increased by 31% in India

According to the National Cyber ​​Crime Reporting Portal, a 31% increase in cyber crime in the first quarter of 2022 was observed, compared to that of the first quarter of 2021.

A total of 206,153 cybercrime complaints were reported in the first quarter (January-April) 2022.

In 2021, over 50,000 UPI fraud complaints were reported in the first quarter, while in 2022, 113,000 UPI fraud complaints were reported in the first quarter nationwide.

A total of over 43,000 debit/credit card frauds and SIM card swapping frauds were reported in the last quarter in India, while only 19,000+ cases were reported last year.

Internet banking fraud also increased by 14-15%.

Of the total number of criminal cases, 66% involved online financial fraud.

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