Srinagar, Dec 11: Indian Cybercrime Coordination Centre (14C), under Ministry of Home Affairs (MHA), government of India has issued a strong alert warning citizens about the rapid increase in fake loan applications that are deceiving people with false promises and illegal financial practices.
The Centre is the National nodal agency for tackling cybercrime comprehensively.
According to the alert, several fraudulent loan apps are luring people by offering “instant approval” and “guaranteed loans” without any verification.
These apps often use misleading claims such as “no documents required” to trap individuals in urgent need of money.
“These fake apps usually charge excessive processing fees and extremely high interest rates, far beyond legal limits. In many cases, victims report being forced to pay additional hidden charges, while the loan amount received is much lower than what was promised,” it said as per news agency Kashmir Indepth News Service (KINS).
One of the biggest warning signs, according to the alert, is that these apps do not provide any valid contact details, customer support numbers, or official websites, making it impossible for users to reach out for help once they fall into the trap.
The Cybercrime Coordination Centre has also highlighted that many such platforms operate without mandatory approval or license from any registered NBFC or bank, violating financial regulations and putting users at serious risk of fraud, harassment, or misuse of personal data.
Sharing the MHA advisory, the Jammu and Kashmir Police has also urged people across the Union Territory to stay alert and avoid downloading or using unverified financial apps.
Authorities have warned that falling victim to such apps can lead not only to financial loss but also to privacy breaches, blackmail, and online harassment, as many fake lenders illegally misuse the borrower’s contact list and personal information.(KINS)
