Tarun Karthick
Port Blair, 01 December 2023
In a concerning trend sweeping across the nation, a surge of complaints is emerging surrounding illegal digital lending applications. These platforms offer short-term loans or micro-credits at exorbitant interest rates coupled with hidden charges, sparking widespread concerns about exploitation and privacy breaches.
The apps in question, potentially operating outside the purview of regulation by the Reserve Bank of India (RBI), are preying on vulnerable and low-income individuals. To secure these loans, borrowers are coerced into providing access to sensitive personal information such as contacts, location, and media files.
Disturbingly, this confidential data is then manipulated for malicious purposes, including blackmail and harassment, further victimising those seeking financial assistance. These illicit apps employ bulk SMS campaigns, digital advertisements, chat messengers, and mass-scale outreach through mobile app stores to ensnare users.
A stern advisory has been issued to all citizens, urging them to steer clear of these unlawful lending apps when seeking financial aid. Those who have fallen victim to deceit, blackmail, or harassment due to these apps are strongly encouraged to promptly report such incidents to the Cyber Cell, CID in Port Blair, or the nearest Police Station.
Report incidents via the following channels:
– Cyber Helpline No.: 1930
– Cyber Crime registration portal: cybercrime.gov.in
As the surge in complaints continues, authorities emphasise the critical importance of alertness and caution when engaging with digital lending platforms, stressing the need for immediate reporting to curb this alarming trend.