TS police public against fake loan apps

Hyderabad: In the recent incidents of loan app frauds, the Telangana police have warned that many apps offer loan to access their information from the phone. The company will charge a high rate of interests, if anyone failed to repay/delay, they start harassment by contacting or messaging all their contacts, they added.

On the occasion, the police also released names of over 100 fake loans apps available on Google play.

It is mention here that the Telangana police has booked several companies who were illegally running the loan app business and has detained many persons who were involved in operating the business.

Unfortunately, a few persons in Telangana had ended their lives after being allegedly victimised by the executives of the loan app companies.

After a brief lull following the arrest of people in connection with some cases booked here, a few loan apps again resurfaced and the police registered a few more cases following complaints from the victims.