Thiruvananthapuram (Kerala), Jul 27 (PTI) Kerala Police on Monday warned the public against fake loan apps that lure users with fraudulent loan offers through social media, SMS and fake websites, urging people to download loan applications only from authorised sources and avoid sharing personal or banking details.
In a statement, the police said fraudsters circulate fake advertisements on platforms such as Facebook, Instagram, YouTube, WhatsApp and Telegram and persuade users to download malicious APK files disguised as genuine loan applications.
Once installed, these apps gain access to contacts, SMS, call records, camera, microphone, location and storage on the victim’s phone. Users are then asked to upload Aadhaar, PAN, photographs, bank account details and employment-related documents.
The fraudsters often display fake loan approval messages and, in some cases, transfer a small amount to victims’ accounts to gain their confidence, police said.
They later demand payments under various pretexts, including processing fee, GST, insurance, verification charges, security deposits and account activation fee, without disbursing the promised loan.
Police said fraudsters have also been found threatening victims by morphing their photographs and claiming they would circulate them among family members and friends unless more money is paid.
The stolen KYC documents are also used to open fake bank accounts, obtain SIM cards, secure other loans and commit financial crimes, the statement said, adding that the fraudsters frequently abandon the app or website after carrying out the scam and relaunch similar operations under different names.
The police advised the public to download loan apps only through the Google Play Store or Apple App Store and avail loans only from RBI-authorised institutions. People should avoid installing APK files received through links and never share Aadhaar, PAN, bank account details, OTPs, UPI PINs or CVV numbers with strangers.
Victims of cyber financial fraud should immediately report the incident through the national cybercrime helpline 1930 or the National Cyber Crime Reporting Portal. PTI LGK KH
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