Thiruvananthapuram: The Kerala Police cyber wing is planning to take down the operation of illegal money lending applications, including those against which no complaints have been registered so far. Measures are underway to curtail the operation of around 20 instant loan applications which were identified by the intelligence wing.
It is also learnt that the Indian Cyber Crime Coordination Centre (I4C) has been informed to stop the operation of such applications, other than the 72 apps that were taken down earlier after notifying Google.
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According to authorities, out of the cyber fraud complaints received, less than 10 per cent are linked to loan applications. A majority of the applications mentioned in the complaints are reportedly China-made. The cybercrime wing is also planning to serve a notice to Google demanding to withdraw such applications.
Trading frauds
Around 45 per cent of the complaints lodged are linked to online trading frauds. The method is to include people, who click on links circulating on social media, in online trading and then extort money. The method is to provide credits instead of depositing a fixed amount and later withdrawing money on the basis of the credits.
In these apps, initially, the user will be offered credits higher than the deposited money. However, the deposit can be withdrawn only after reaching a certain credit limit. When the user deposits more money to reach that credit number, the whole deposited amount will be withdrawn by the fraudsters and the account will become inoperative.
Published: 05 Oct 2023, 09:31 am IST
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