Don’t download if it is too good to be true: Pimpri Chinchwad cyber police issue advisory warning against fake instant loan apps

Pune: The Pimpri Chinchwad cyber police on Monday night issued an advisory alerting citizens about fraudulent instant loan apps circulating on social media platforms.

Deputy commissioner of police (crime) Shivaji Pawar said they had received multiple complaints from individuals who were cheated through such fake apps promising quick loans. He urged victims of cyber fraud to report incidents on the National Cyber Crime Portal (www.cybercrime.gov.in) or call the helpline number 1930.

Explaining the modus operandi, the police said fraudsters initially lured users by offering small loan amounts, typically between Rs 5,000 and Rs 15,000. “Once the loan is disbursed, the perpetrators resort to threats and harassment through messaging and calling apps to extort larger sums,” the police said.

“These fraudsters circulate links on social media encouraging users to download fake loan applications, often shared as APK files or hosted on unofficial platforms. During installation, users unknowingly grant access to sensitive data such as contacts, photos, messages and location,” the police said.

In several cases, fraudsters morphed victims’ photos and sent them to their contacts or relatives via messaging apps to pressure them into paying exorbitant amounts.

The cyber police advised citizens to exercise caution before downloading such apps. “Users should verify whether the loan app is associated with an authorised bank or a registered non-banking financial company by checking the RBI’s official list. People should also check app reviews and ratings and avoid apps that demand unnecessary permissions like access to contacts, photos, messages or location data,” the police said.

People have also been advised to remain cautious of advertisements promising loans with minimal documentation or unusually low processing fees.