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FRAUDULENT LOAN APPS
Cantor V founder and Indian-origin California businessman Mahender Makhijani accused in $100 million fraud; sex party and blackmail claims surfaceIndian-origin businessman and founder of Cantor V Group, Mahender Makhijani, is facing a $100 million fraud investigation in California. Pr...- A loan you never took; How PAN fraud is wrecking credit scores in India and what you should do to protect yourselfIndians are facing a new threat: PAN-based loan fraud. Criminals are using stolen PAN details to take out loans without consent. This is da...
- Got a Rs 7 Lakh PM Mudra loan approval asking for Rs 860? You are being scammedScammers are using fake approval letters on social media, claiming eligibility for PM Mudra loans and demanding a fee for release. The Pres...
- Unregulated lending may soon be bannedThe government is likely to introduce a bill in the upcoming monsoon session of Parliament to ban unregulated lending activities, aiming to...
- Malware data sharing: Beyond big tech, panel demands government clarityStanding Committee questions reach of cybercrime information, seeks inclusion of local search engines and rural connectivity agencies.
- Govt proposes new law to restrict unregulated lending; violators to face 10 years of jailThe central government has introduced a bill, BULA, to combat unregulated lending. The bill proposes up to 10 years imprisonment and substa...
- RBI to make repository of authorised digital lending apps: Take app loans only from these to avoid being scammedReserve Bank of India (RBI) plans to create a public repository of digital lending apps to curb rising menace of illegal loan apps in India...
- How to sidestep the great app trap: Instant money, dire resultsDigital loans have become increasingly popular in India, with a 49% surge in disbursements in the financial year 2023-24. However, this gro...
- Corporate affairs ministry probing Chinese companies linked to loan apps; investigations at advanced stagesIn recent times, Indian authorities have been cracking down on entities that are operating loan apps illegally and the ministry has also be...
- Corp affairs ministry probing Chinese cos linked to loan apps; investigations at advanced stagesThe Indian corporate affairs ministry is investigating several Chinese companies, particularly those connected to loan apps, for alleged vi...
- Govt may amend IT Act to add new rules for AI, GenAI modelsThe amendments to the IT rules are likely to mandate that GenAI platforms which use artificially intelligent algorithms or language models ...
- Government directs digital platforms not to carry ads of fraudulent loan appsChandrasekhar said the IT ministry has made it clear to the platforms that they cannot carry advertisements of fraudulent loan apps as thos...
- Google has removed 2,500 fraudulent loan apps from its Play Store, says FM Nirmala SitharamanThe government is constantly engaged with the Reserve Bank of India (RBI) and other regulators and stakeholders concerned to control fraudu...
- WhatsApp police to combat online loan app frauds in Kerala's ThiruvananthapuramTo tackle the rising cases of online loan frauds, the Thiruvananthapuram police in India have launched a dedicated WhatsApp number for repo...
- Apple pulls predatory lending apps from India App StoreApple has removed several predatory lending apps from the App Store in India, after users took to social media and complained about them.
- Google says it prevented 1.43 million policy-violating apps on Google PlayAdditionally, the company banned over 1,73,00 bad accounts and prevented over $2 billion in fraudulent and abusive transactions to combat m...
- Fall in digital lending app complaints as rules kick inSurvey firm Local Circles also said that the number of complaints had reduced by 30-40% in the past four weeks.
- An app-solute menace: Victims falling prey to loan app schemesPeople who have got loans quickly through fraudulent apps online are being extorted into coughing up much more than what they owe. Despite ...
- Fintechs band together to weed out fakesLast year Google had pulled the plug on more than 500 instant-credit apps that had their roots in China and were not compliant with central...
- Indians most susceptible to online fraudsThe industry survey also said that Indians are willing to accept the online frauds if assured of non-recurrence by companies.
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