Topic: Loan scam in India allegedly headed by a Chinese Narional - page 3. (Read 677 times)
The war pressure is rising between India and China on the border issue. The loan scam is being related with the Chinese application developers. More people have ended their lives out of the pressure given from the loan providing application. This loan scam is termed to be a way to track and gather data about the users. This way it is planned to create internal violence within the country. I don't know how this gonna be true.
Thank you for the information. indeed this is very vulnerable and needs to be avoided, considering that India has a very neat way of committing this type of fraud. although not all, and although encouraged by one person who is a Chinese citizen, it certainly adds to the image of trust in India getting worse. Just imagine, just by using the Android application, this can happen, especially if you use hardware that has a larger capacity weight.
A loan scam amounting to INR 21,000 Crores (USD 280 Mn) has been doing the round in Indian media.
The report here alleges that some transactions also used digital wallets:
Link1
Link 2
What they found was a record of several transactions amounting to a total of 21000 Crores in form of lending and borrowing with high rates of interest. This was being run by a Chinese national using android apps ans a network of call centers in India.
I wonder if any of you have come in direct contact or know someone who has interacted with these people. It seems like a network of P2P lending which turned sour due to the sheer scale and harassment of borrowers which even led to a tech worker's suicide.
The report here alleges that some transactions also used digital wallets:
Link1
Link 2
What they found was a record of several transactions amounting to a total of 21000 Crores in form of lending and borrowing with high rates of interest. This was being run by a Chinese national using android apps ans a network of call centers in India.
I wonder if any of you have come in direct contact or know someone who has interacted with these people. It seems like a network of P2P lending which turned sour due to the sheer scale and harassment of borrowers which even led to a tech worker's suicide.
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