Fake Loan App: The number of cyber frauds is increasing day by day in the country. Fraudsters are making money by deceiving people in new ways. Fraudsters are looting bank accounts by knowing people’s personal confidential information and using OTP. And this includes fake loan apps (Loan Apps). Through this, some mobile apps are ensnaring people by showing the lure of getting a large amount of loan at a very low interest rate (Fake App). Then fraudsters are getting confidential information from them by blackmailing them. 15 such loan apps (Fake Loan Apps) have been identified, which have been downloaded by a lot of people on Play Store and around 8 million people across the country have become bankrupt due to these apps.
How this app is identified
McAfee Mobile Research identified these 15 fake apps. Through this people were shown the temptation to get large amount of loan at very low interest rate. At first glance, all these apps may seem legit or trustworthy, but these apps can steal your bank account by collecting your confidential information once downloaded on mobile. Once the information is gathered, the fraudsters begin their work. Fraudsters have blackmailed many lakhs of rupees from customers in this way.
How was blackmail done?
Fraudsters launch all these apps with credible names, making it look like they are legitimate apps from financial institutions. They are also widely advertised on social media. By winning people’s trust in this way, if a person downloads this app once, the fraudsters take SMS, call logs, contact list from his phone. These apps also take permission of call recording, camera, microphone. Later this is how customers are blackmailed.
These apps have been identified as fake
Secure Loan-Fast, secure
Quick Loan-Credit Easy
RupiahKilat-Liquid funds
KreditKu-Money Online
Quick Funds – Small loans
Cash Loan – Borrow money
RapidFinance
ReadyForYou
Huayna Money
Loans: Fast
Get Sol-Money Fast
EcoLoan Online Loan
If you have downloaded one of these apps on your phone then it is a danger, you should delete it immediately. Some apps have also been deleted from the Play Store after the report, while some apps have been updated by the developers.
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