Gurgaon: Police Cyber Gurgaon has broken the instant microloan loan racket carried out through a cellphone application and arrested two people from the company’s call center in Sector 58.
Police said the defendant used a cellular application of Rs 2,000 to Rs 5,000 for a week with an exorbitant and cost Processing is reduced ranging from Rs 600 and 1,200 Rs when transferred.
Recovery agencies are used to bully absent by threatening to make their personal photos and videos viral.
The application ‘MyCash’ is similar to the China Instant Loan application captured by Hyderabad police earlier this year, which encouraged several people in Telangana to end their lives.
Acting on a tip-off, a team from the Cyber Police Station raided PSPR Enterprise Pvt Ltd calls which operated on the eight-floor of buildings in sector 58 on Thursday.
The police said the company offered instant loans through the application without a non-banking financial corporation license from RBI.
The company was found to wear processing fees that were too high and interest on small loans offered for a week through cellular applications, police said.
Both were accused of being identified as Sanjay Kumar, a resident of Faridabad and Bharat from Charchhi Dadri.
“Investigations revealed that the defendant used to collect personal data several people who have downloaded the application from the Google Play Store by feeding their personal details and uploading copies of their Pan and Aadhaar cards to take loans,” said ACP Karan Goel.
The defendant was also used to hack the client’s cellphone to get the personal details of their relatives, such as their names, addresses, and cellphone numbers.
“They use data to put pressure on people if they are delayed in making payments,” ACP said.
A fired fired against both of them was accused of under Section 420 (cheating) and 120B (criminal conspiracy) IPC and under IT laws.
The duo was produced in court on Friday that sent it in police custody three days for further interrogation.
Racket of instant loan applications damaged in Gurgaon, two captured
