The Indian government has issued a warning about fraudulent loan apps. These apps can steal your personal information and bank details, emptying your account. Delete them immediately.
Loan Apps: If you're looking for a mobile app that offers quick loans, be cautious. The Indian government recently issued a serious warning, stating that many fake loan apps exist on the Google Play Store. These apps appear legitimate but are designed to steal your personal information and bank details. The Indian Cyber Crime Coordination Centre (I4C), operating under the Ministry of Home Affairs, through its official handle 'Cyber Dost' on X (formerly Twitter), alerted users and shared a list of such dangerous apps, recommending their immediate deletion.
These are not loan apps; they are enemies of your finances.
According to government reports, these loan apps lure users with promises of quick and easy loans. Initially, they request KYC details like Aadhaar, PAN, bank account information, and other sensitive data. However, once installed, these apps demand access to the phone's gallery, contacts, microphone, and messages.
Once permission is granted, these apps not only spy on user data but also often withdraw money from bank accounts. Furthermore, in many cases, after disbursing the loan, these apps resort to intimidation, threats, and mental harassment.
What did the government warning say?
The warning issued by 'Cyber Dost' highlighted the following key points:
- Avoid fake financial apps: Use only loan apps officially authorized by the RBI.
- Verify app legitimacy before downloading: Before installing any app, check its developer, reviews, and downloads.
- Do not grant unnecessary permissions: If an app requests access to your microphone, gallery, location, or contacts, consider whether it's truly necessary.
- Avoid sharing personal information: Do not share any documents, OTPs, or bank details with unknown apps or individuals.
Possible connection to hostile nations
The government report also indicates that many fraudulent loan apps are operated from countries hostile to India. Their aim is not only to cause financial harm to ordinary Indians but also to jeopardize the nation's digital security. In many cases, these apps have been linked to China and other neighboring countries.
Phone calls may also be recorded
Another alert issued by the government warns that some apps can silently record phone calls if internet is enabled during calls. Police officials advise users to check the permissions settings of Google Chrome and other apps to see which apps have permission to access the microphone, camera, or call recording.
Delete these apps immediately
While the list of apps shared by Cyber Dost changes periodically, some prominent fraudulent loan apps include:
- Fast Loan
- Easy Credit
- Instant Cash
- Paisa Loan
- Cash Advance
- Rupee Wallet
Ensure your security by:
- Reading ratings and reviews on the Play Store
- Downloading apps only from authentic sources
- Checking microphone, camera, and gallery access in phone settings
- Always using two-factor authentication for financial apps
- Calling the cyber helpline at 1930 or filing a complaint at www.cybercrime.gov.in immediately if suspicious activity is detected
