Loan application scam: Rs 500 cr sent to China, 22 Indians detained

New Delhi, August 20 (SocialNews.XYZ) Delhi Police Special Cell’s Intelligence Fusion and Strategic Operations (IFSO) unit has dismantled various China-related instant loan application modules and arrested 22 people in the past two months for allegedly siphoning off Rs 500 crore to China via the hawala route or by investing in cryptocurrency, an official said on Saturday.

The individuals arrested were working for Chinese nationals. KPS Deputy Police Commissioner Malhotra said hundreds of complaints have been received by Delhi Police that instant loan applications are disbursing loans at higher rates and even after loan payment they are extorting money. money using the transformed nude photos.


“IFSO became aware of this and began to analyze the complaints in which it was found that more than 100 such applications were involved in loan and extortion racketeering,” Malhotra said.

The police carried out an in-depth technical analysis, after which it was learned that all the applications were looking for “malicious permissions” from the user.

After obtaining the access permissions, the user’s contacts, chats, messages and pictures were uploaded to the servers based in China and Hong Kong. The money route analysis also revealed that money was flowing to China via hawala and cryptocurrencies.

“The apps were developed in the form of loaner apps. These apps were malicious in nature and asked for all permissions from the user. The apps were hosted on Google Play and websites. were downloading the apps by granting all the permissions. Soon after that, the app started uploading the user’s contact lists, chats, pictures to the servers hosted in China and elsewhere,” said the police officer.

This data was also sold to various private companies.

Customers were receiving calls from different numbers (obtained on fake IDs) forcing them to pay more and more by threatening them using the transformed images. Due to fear and stigma, users started paying them money into different bank accounts opened with fake IDs.

The money collected was diverted to specific bank accounts and then sent to China via Hawala or after buying cryptocurrencies.

“People who desperately needed a small loan ranging from Rs 5,000 to Rs 10,000 are forced to pay even in lakhs,” the official said.

The financial test revealed that multiple accounts are used to obtain the amount. In each of the accounts, transactions of more than Rs 1 crore were credited daily.

The identities of a few Chinese nationals have been confirmed and efforts are underway to track them down and arrest them.

“From the analysis of the financial trail and other technical analysis, it has also been revealed that Chinese nationals are actively involved in these loan application scams. Moreover, after the police crackdown, they transfer their centers recovery calls in Pakistan, Nepal and Bangladesh,” police said.

Delhi Police have identified mobile apps through which Rs 500 crore was sent to China via Hawala or buying cryptocurrency.

Malhotra said there were more than 100 apps involved in such extortion racket through mobile lending apps.

These are the applications that granted small loans. Their real owners would be Chinese nationals.

“Lynda, Akira, Zoya, Kobe Bryant and Luo Rong aka Xiasi, are the Chinese nationals involved in the case who owned a few apps,” Malhotra said, adding that three separate cases have been filed in this regard.

The name of the apps that have been identified by the police are — Raise cash app, PP money app, Rupees master app, Cash ray app, Mobipocket app, Papa money app, Infinity cash app, Kredit mango app, Kredit marvel app, CB loan app, cash advance app, hdb loan app, cash tree app, gross loan app, in process, minute cash app, cash light app, cash fish app, hd credit app, Ruppes Land App, Cash Room App, Rupee Loan App and Well Credit App.

Chinese instant loan apps linked to the Lucknow-based “extortion” call center have been identified as Cash Port, Rupee Way, Loan Cube, Wow Rupee, Smart Wallet, Giant Wallet, Hi Rupee, Swift Rupee, Walletwin, Fishclub, Yeahcash, Im Pret, Growtree, Magic Balance, Yocash, Fortune Tree, Supercoin, Red Magic.

Source: IANS

Loan application scam: Rs 500 cr sent to China, 22 Indians detained

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