![](https://www.udayavani.com/wp-content/uploads/2024/07/Shalini-Rajaneesh-415x217.jpg)
Over 130 Chinese shady loan apps disabled
Team Udayavani, Jun 24, 2022, 9:51 AM IST
![](https://www.udayavani.com/wp-content/uploads/2022/06/loan-app-1-620x465.jpg)
Representative Image (source: Dribble)
Bengaluru: State police have launched an operation against Chinese-origin loan apps that harrassed Indian borrowers, mostly from the middle class. So far, more than 130 loan apps have been disabled, 160 bank accounts have been blocked and Rs 8 to 10 Crores have been confiscated.
Acting on a directive from the central government to act against illegal loan apps, Bengaluru Police have got into action. More than 600 cases against loan apps have been registered at the 8 CEN police stations in the city.
Last year, Licorice Technology Private Limited, formed by 4 Chinese nationals in Bengaluru, was found to be involved in a case registered at the Marathalli police station. Later it was found that 85 Indian companies had assisted Chinese loan apps and had opened bank accounts in 62 banks in India, police sources said.
As per sources, shrewd Chinese businessmen enticed unemployed Indians by offering attractive commissions during the Covid lockdown period using various online apps. not only established loan app companies in their names but also opened bank accounts to circumvent regulations.
These companies and bank accounts were used to send links to their victims offering to avail of instant loans anywhere between Rs 1,000 to Rs 5 Lakhs by downloading apps from Google Playstore. Once availed, the victims were told to pay an interest of 40 percent to 60 percent on the loan amount and warned to pay it promptly.
These shady loan apps demanded inflated amounts as dues and also threatened the victims by sending false accusations about the victims to their friends using their numbers, Facebook, Instagram, and other social media platforms. They also misused the photographs and other documents submitted for making doctored obscene videos and photos and tagged the victims as threats. Many of the victims paid the money whereas few approached the police.
Police, meanwhile, have submitted a report on the information gathered during the investigations to the central intelligence agencies. It was found that Chinese handlers behind the apps conversed with the Indian directors of the companies using an app called “DingTalk”. they also have created separate WhatsApp groups, sources added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
![](https://www.udayavani.com/wp-content/uploads/2023/05/IndianClicks_GVega_Udayavani_300x250_12032021_1_1.gif)
Related Articles More
![](https://www.udayavani.com/wp-content/uploads/2024/07/BSY-PTI-150x83.png)
Karnataka HC adjourns POCSO case against ex-CM Yediyurappa for a week
![](https://www.udayavani.com/wp-content/uploads/2024/07/Rain-School-children-Skymet-weather-2-150x90.jpg)
Heavy rain: School holiday on Saturday in Dharwad and Belagavi except Ramdurg
![](https://www.udayavani.com/wp-content/uploads/2024/07/Shalini-Rajaneesh-150x79.jpg)
Shalini Rajneesh to be new Chief Secretary of Karnataka
![](https://www.udayavani.com/wp-content/uploads/2024/07/NH169a-landslide-150x89.jpg)
Thirthahalli: Vehicular traffic restricted on NH 169A due to landslides at Kuruvalli-Balebailu bypass road
![](https://www.udayavani.com/wp-content/uploads/2024/07/Rains-5-150x84.jpg)
Heavy rains and winds: School holiday declared for July 27 in Chikkamagaluru and Kodagu
MUST WATCH
Latest Additions
![](https://www.udayavani.com/wp-content/uploads/2024/07/BSY-PTI-150x83.png)
Karnataka HC adjourns POCSO case against ex-CM Yediyurappa for a week
![](https://www.udayavani.com/wp-content/uploads/2024/07/Rain-School-children-Skymet-weather-2-150x90.jpg)
Heavy rain: School holiday on Saturday in Dharwad and Belagavi except Ramdurg
![](https://www.udayavani.com/wp-content/uploads/2024/07/arrested-PExels-5-150x113.jpg)
CBI busts cyber crime network operating from Gurugram; 43 arrested
![](https://www.udayavani.com/wp-content/uploads/2024/07/Shalini-Rajaneesh-150x79.jpg)
Shalini Rajneesh to be new Chief Secretary of Karnataka
![](https://www.udayavani.com/wp-content/uploads/2024/07/Salman-Khan-PTI-1-150x104.jpg)
Salman residence firing: NBW issued against Lawrence Bishnoi’s brother
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.