Police crack down on online loan sharks

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Slamming the whip against bogus online loan applications for alleged harassment of debtors, Cyberabad police swung into action and raided the offices of some companies, which incidentally turned out to be centers of calls.

So far, eight cases against such companies have been registered in Hyderabad, while six and one each have been registered at Cyberabad and Rachakonda police stations respectively.

Harassment by these companies has so far resulted in at least three deaths in Telangana, the latest being the death of a 29-year-old technician from Rajendranagar. As P. Sunil’s death raged across the state, Cyberabad police quickly acted against companies harassing lenders.

Confirming the latest development of The HinduCyberabad Deputy Police Commissioner (Crimes) Rohini Priyadarshini said their detectives raided company offices. “One of them is an application development company, while the others are call centers. So far we have not made any arrests, ”she said.

However, Ms Priyadarshini said they served notices on the micro-financiers and asked them to appear for questioning. So far, Cyberabad Police Station Cybercrime Police have registered six cases. Police said they identified at least 60 of these instant loan mobile apps that were not registered or recognized by the RBI as a non-bank finance company and that their operations were illegal.

When asked how the companies in question had managed to secure funds to disburse loans instantly, the DCP said some NBFCs are “pumping” money for high returns, as promised by the companies. mobile loan applications.

“Companies investing in such applications are also being vetted and will soon be summoned for questioning,” she said, adding that one such NBFC operating out of Delhi has been identified.

“With the exception of online harassment and humiliation, so far we have not received any complaints of physical harassment from lenders,” Ms. Priyadarshini said.

According to the police, students, unemployed young people and housewives were victims of this harassment because many of them took out loans from these companies without the knowledge of their parents or their spouse.


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