A new kind of digital loan apps scam has started plaguing India. Here scammers ask victims to download an app to get loans at attractive terms only to later harass, threaten and even blackmail them. Know more about this online trap and how not to fall for it.
With the rise of digital infrastructure, there has been a rise in digital crimes as well. Among them, digital loan apps scams have emerged as a particularly dangerous and heinous cybercrime. The scammers create loan apps and advertise attractive loan repayment terms to trap victims. Once a victim downloads and takes a loan, the loanee is immediately bombarded with texts messages, WhatsApp texts and phone calls harassing and threatening them for quick repayment, often for a much higher amount than previously agreed upon. If the victim refuses, they even go as far as blackmailing them to call and harass their friends and family. This dangerous scam has also driven people to commit suicide to escape their humiliation in front of friends and family. Make sure you never fall for it. Read on to know how this scam spreads and how you can protect yourself.
According to a report by BBC, the case of Raj (changed name) highlights the modus operandi as well as how these digital loan scams can actually affect people. Raj, a Pune-based man was lured into one of these scam apps due to its easy process and attractive interest rates. He decided to take a loan of around Rs….
