The Ministry of Home Affairs has told all the states and union territories that this issue is having a serious impact on national security, economy and security of citizens. It said that a large number of such complaints are coming from across the country that illegal digital lending apps especially target vulnerable and low income groups.
The Union Home Ministry has asked government agencies to take strict action against the mobile app giving loans. After this government directive, strict action can be taken against those mobile apps which cheat the common people in the name of giving loans. Many times it happens that the needy person gets caught in the trap of such app and later he is subjected to atrocities in the name of loan recovery. There have been many such incidents in the country when the borrower committed suicide after getting fed up with the harassment of app companies.
Now the government has asked the police-administration or investigative agencies to take strict steps against these companies. Many Chinese-controlled companies are involved in giving loans and harassing people whose harassment and strict methods of extortion have led to many incidents of suicide.
Strict instructions from the government
The Ministry of Home Affairs has told all the states and union territories that this issue is having a serious impact on national security, economy and security of citizens. It said that a large number of such complaints are coming from across the country that illegal digital lending apps especially target vulnerable and low income groups. Such mobile apps offer short term loans or small loans at high interest rates and also have hidden charges.
People cheated in the name of loan
These companies harass and blackmail borrowers by intimidating them using secret personal data like contacts, location, photos and videos. The ministry said that due to the bad attitude of these illegal lending companies, many people have lost their lives across the country. The issue has had serious implications for national security, the economy and the security of citizens.
Cyber crime apps
Loan borrowers have to compulsorily give these apps access to their contacts, location and phone's storage. The ministry said that this data is misused. According to the Ministry of Home Affairs, the investigation has found that it is an organized cyber crime that is carried out through temporary emails, virtual numbers, accounts of unknown people, shell companies, payment service providers, API services, cloud hosting and cryptocurrency. . Such incidents are coming to the fore every day against which the government has ordered to take action.
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