Hyderabad, December 31: The loan app scam has been creating a lot of noise over the past few days. The Hyderabad police on Wednesday arrested a Chinese national in connection with its probe related to scam. According to a Hindustan Times report, the case is about unauthorised mobile apps providing instant loans through their call centres.
These approvals of loans are quickly done on these platforms but the lenders then harass the borrowers over repayment. The police launched its investigation after several such cases were reported. Instant Loan App Scams: RBI Cautions People Against Loans Being Offered by Unauthorised Platforms, Apps Promising Quick & Hassle-Free Approach.
An accused, 27-year-old Chinese national was intercepted at Delhi’s Indira Gandhi International (IGI) airport as he was trying to leave the country. Another person was arrested from Andhra Pradesh, who played a key role in the call centre operations.
Hyderabad Police revealed that preliminary investigation into the financial transactions revealed that close to 1.4 crore transactions worth nearly Rs 21,000 crore have taken place so far.