Chennai: Wing Cyber-Crime-Crime City City investigated at least half a dozen complaints received in the last two weeks of people who claimed they were threatened by the ‘staff’ loan application.
The police also saw the possibility of Chinese corners to the racket.
In one case, the police said, Chetpet Resident Kiran Kumar, who worked in a private hotel, on January 26 borrowed Rs 7,000 through OB cash loans.
He only received Rs 4.060, with the rest deducted as processing fees, but was asked to pay Rs 7,000 within six days.
He began to pay, but continued to receive calls and messages from the ‘staff’ that worked with the application.
When he demanded the farewell of cash, his family and friends flooded by messages from the ‘company’ told him ‘loan trimming’.
He then filed a complaint of the police.
An officer in Wing Cybercrime said they received similar complaints from many others and appealed to people to avoid taking loans through such applications that were not registered with the RBI or non-banking finance companies (NBFC).
Cash money loan application, which functions under the Android cellular operating system, claims to have more than one lakh download and it is rated 4.6 / 5 stars, but the reviews are mixed.
Rahul Ingavale and Rinku Mudgil customers called it terrible, while Shakeer Shakeer, who liked Praveen Kumar applying for a loan of Rs 7,000 but only got the RS 4.060 and was asked to pay the entire amount, said it was the worst loan application he had ever taken money from.