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Instant loan app racket: The Intelligence Fusion and Strategic Operations (IFSO) busted a scam related to loans worth Rs 500 crore on Saturday. According to the Delhi Police`s Special Cell, the scam involved various modules of instant loan applications having Chinese connections.
The police arrested 22 individuals in the last two months who were working on the behest of Chinese nationals. They allegedly siphoned off Rs 500 crore to China by hawala route or by investing in crypto-currency, an official said on Saturday.
According to the report by special cell Delhi, the instant loan app includes Raise cash app, PP money app, Rupees master app, Cash ray app, Mobipocket app, Papa money app, Infinity cash app and more.
Here’s the full list of the apps which have been identified by police —
Raise cash app
PP money app
Rupees master app
Cash ray app
Mobipocket app
Papa money app
Infinity cash app
Kredit mango app
Kredit marvel app
CB loan app
Cash advance app
HDB loan app
Cash tree app
RAw loan app
Under process
Minute cash app
Cash light app
Cash fish app
HD credit app
Ruppes land app
Cash room app
Rupee loan app
Well Kredit app
Chinese Instant Loan Apps Linked to Lucknow based extortion call centre :-
1. Cash Port
2. RupeeWay
3. LoanCube
4. WowRupee
5. SmartWallet
6. GiantWallet
7. HiRupee
8. SwiftRupee
9. Walletwin
10. Fishclub
11. Yeahcash
12. ImLoan
13. Growtree
14. MagicBalance
15. Yocash
16. FortuneTree
17. Supercoin
18. RedMagic
Deputy Commissioner of Police KPS Malhotra said that hundreds of complaints were received by Delhi Police that instant loan applications are disbursing loans at higher rates and even after payment of loan, they are extorting money using the morphed nude pictures.
“The IFSO took cognizance of the same and started analysing the complaints during which it was found that more than 100 such apps are involved in the loan and extortion racket,” Malhotra said.
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