August 17, 2022

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Instant Loan Apps luring the loan seekers on pretext of providing easy loan and executing unethical practices, high processing fees, unexplained interest and penalty charges and identity theft, biggest scam yet to be exposed in the transparent way. Instant loans without any official documentation may sound like a boon or miracle to the borrowers; and off course this miracle happening in India, where several loan apps are offering personal and unsecured loan in minutes, but the experience turns out to be a of terrible nightmare once you moment you fall into their traps. AspKom Eixil Foundation since 2019 had been working towards helping such borrowers who have fallen into the traps of such scams, but still the solution to it requires active stringent laws to be framed by Government and RBI. Countering the Loan Apps Recovery Process requires Cyber Crime Experts and a Brief Understanding about the Loan Approval, Disbursal and Repayment Process….
and Till then awareness is only key to safeguard yourself.

Next time when you receive any SMS like this, wish yourself Good Luck if you are clicking their Link

Your Loan of Rs. X,XX,XXX is Approved by ************. 100% Approval rate & Instant Bank A/c transfer. Check your Loan status Here:

Some Common Marketing Gimmicks being followed by these Scammers includes:

  • A Fancy Message (SMS, Whatsapp Message or Promotions on Facebook) Claiming that You can get XX,XX,XXX…

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