Table of Contents
Why Fake Loan Apps in the market :
Lots of factors contribute to the growth of online loan scams in India. The COVID-19 pandemic led to economic challenges, creating a sense of desperation for many individuals. People around me was distributed with there financial situation. Scammers start to targeted larger populations, such as those with limited credit history, Students, Housewives and exploit this desperation. The anonymity of the digital world makes it easier for scammers to operate.
Fake Loan App List :
| 1 | Agile Loan app |
| 2 | Aladdin Lamp |
| 3 | Angel Loan |
| 4 | my money |
| 5 | Cash Advance Loan |
| 6 | cash app |
| 7 | cash bucket |
| 8 | Cash Credit |
| 9 | Cash Cube |
| 10 | Cash Express |
| 11 | Cash Flow |
| 12 | Cash Genie |
| 13 | Cash Guru |
| 14 | Cash Hub |
| 15 | Cash Junction |
| 16 | Cash King |
| 17 | Cash Kumar |
| 18 | cash loan |
| 19 | Cash Palace |
| 20 | cash master |
| 21 | Cash Mine |
| 22 | Cash Ninja |
| 23 | Cash Ocean |
| 24 | Cash Palace |
| 25 | Cash Paradise |
| 26 | Cash Park |
| 27 | cash point |
| 28 | cash power |
| 29 | cash prime |
| 30 | Cash Queen |
| 31 | Cash King |
| 32 | cash ram |
| 33 | Cash Queen |
| 34 | Cash Rocket |
| 35 | Cash Rush |
| 36 | Cash Safari |
| 37 | cash secret |
| 38 | cash shop |
| 39 | Cash Smart |
| 40 | cash solution |
| 41 | cash star |
| 42 | cash street |
| 43 | Cash Sultan |
| 44 | cash super |
| 45 | Cash Supreme |
| 46 | Cash Tiger |
| 47 | cash treasure |
| 48 | cash tree |
| 49 | Cash Triangle |
| 50 | Cash Tsunami |
| 51 | cash turbo |
| 52 | Cash Unicorn |
| 53 | Cash University |
| 54 | Cash Vault |
| 55 | Cash Vega |
| 56 | CashVenus |
| 57 | Cash Victory |
| 58 | Cash Villa |
| 59 | Cash Vision |
| 60 | Cash Volcano |
| 61 | Cash Travel |
| 62 | cash wallet |
| 63 | cash world |
| 64 | Credit App |
| 65 | Credit Basket |
| 66 | Credit Bucket |
| 67 | Credit Cube |
| 68 | Credit Express |
| 69 | Credit Flow |
| 70 | Credit Genie |
| 71 | Credit Guru |
| 72 | Credit Hub |
| 73 | Credit Junction |
| 74 | Credit King |
| 75 | Credit Kumar |
| 76 | Credit Loan |
| 77 | Credit Palace |
| 78 | credit master |
| 79 | Credit Mine |
| 80 | Credit Ninja |
| 81 | Credit Ocean |
| 82 | Credit Palace |
| 83 | Credit Paradise |
What Is Fake Loan App :
there are lots of mobile application that claims to offer quick and easy access to loans but is it really a part of fraudulent schemes and scams ? we will get to know everything in our todays article On “Fake Loan app list”.
These apps always target individuals in need of Urgent Money , Such as Students, Housewives, or those with No credit history. They target 🎯there user with the promise of interest-free or low-interest loans without the Tension of complex processes.
However, these apps operate outside the purview of regulatory authorities like the Reserve Bank of India (RBI). They request sensitive personal information, such as:
- Aadhaar cards.
- PAN cards.
- Contact lists Access Permissions.
- Photo gallery Permissions access during the application process.
Once We upload these documents and their account details, the scammers behind these fake apps, Deposit a small amount into the Bank account to gain their trust.
The real problems start a week or so later when these scammers, who are the part of call centers, begin contacting Us. They demand more money than originally agreed upon, often under threats and harassment.
If We refuse to pay, these scammers resort to blackmail, using any photos they accessed from the user’s phone to intimidate them further.
We will everything about these “Fake Loan App” . Keep reading this article we will also provide the potential Fake Loan app List.
How to differentiate between legit and Fake loan apps?
To find the difference between the two, consider these points:
- ✅RBI Registration: Check if the app is registered with the Reserve Bank of India. Genuine lenders require this registration.
- ✅Physical Address: Verify if the Loan Provider company has a physical office in India. Scammers often lack an official address.
- ✅KYC Requirement: While KYC documents may be requested, ensure they won’t be misused. and here important point is fake loan apps ask for very less documentation. they process your loan without proper KYC.
- ✅Credit Score Check: RBI registered NBFC companies find your creditworthiness. Be cautious of apps offering loans without such checks.
- ✅Processing Fees: Don’t pay any money as a Processing fee(Upfront Fee) If any App is asking for Processing Fee before Loan Disbursement then RUN Away from there, those apps are under “Fake loan app list” always remember Legitimate lenders deduct these fees from the loan amount.
- ✅Loan Agreement: Always insist on a proper loan agreement with clear terms, including-
- Interest rates.
- Repayment schedules
- Penalties.
- Late fee.
- Loan Tenure.
How to keep yourself Safe ?
To protect yourself and others from there fake loan apps :
- ✅Stay Informed: Be aware of the risks and threats associated with online loan apps. we have also attached the Potential “Fake loan app list.”
- ✅Report Scams: If you got a fraudulent loan app, report it to the Reserve Bank of India (RBI) and your local cybercrime unit, this is very important part we always miss this part.
- ✅Spread Awareness: Share information about these scams with your friends and family to help them and keep safe them.
- ✅Follow the Guidelines: Always follow the guidelines mentioned in the blog, such as :
- Verifying the app’s legitimacy through the RBI and being cautious with personal information.
- Check the reviews and ratings before download from play Store 🏬.
- Don’t pay any money even small amount.
Do you know ?
These apps claim to offer quick loans and promise easy repayment terms. However, they never adhere to ethical lending practices and often engage in blackmail, making public threats, and even sending your personal photos to your family. It might sound like the plot of a thriller movie, but for many people, it has become a harrowing reality. Such fraudulent loan apps are operating, causing distress to numerous individuals.
In most cases, The Person (borrower’s) have experienced that – These Fraud loan apps continue to harass and blackmailing them even after repayment of there actual loan , often resorting to intrusive measures like hacking into their contact list.
In such situations, it’s crucial to file a police complaint. I suggest You must visit your nearest police station or file an online complaint through a cybercrime portal, and Ensure that you mention your fear of potential misuse of your Aadhaar card 💳, PAN card, and other personal information. Also, don’t forget to include the names of those who recommended the app to download you.
Don't Fear :
I know they will be calling to your friends and family 👪 contacts , they may sending your edited images to them .
It’s essential to remain vigilant and not succumb to fear. If you are getting threaten messages or face harassment by those scammers , share your ordeal publicly. Post an edited image on your status indicating that you mistakenly clicked on a dubious link that led to the installation of a fraudulent loan app. also Mention that you have already registered a complaint with your local police station and share the complaint’s copy on your WhatsApp and Facebook statuses. This way, you will inform your friends and family and prevent them from falling into the same trap.
Questions Most Frequently Asked (FAQs)👇
Once you fall victim to such scams, the situation can become disturbing for sometime ( but you don’t need to Scare ) . The scammers demand more money, often exceeding the initial loan amount, and they can try other’s way such as blackmail and harassment. They may threaten to share manipulated or compromising photos with your contacts. It is essential to avoid reaching this point by being cautious and reporting such scams. ( please read this complete article we have published ” fake loan app list”
The government plays a crucial role in addressing this issue. Regulatory bodies like the Reserve Bank of India (RBI) are responsible for overseeing and regulating financial activities, including online lending. The RBI has a mechanism for reporting fraudulent apps, and they can take action against such entities.
However, the public’s vigilance and reporting of these scams are equally essential in curbing this menace.
By being informed, cautious, and proactive, individuals can protect themselves from these scams and help authorities take action against fraudulent loan apps.
Yes, there are several red flags to watch out for when dealing with online loan apps. These include:
Too Good to Be True Offers: If the loan terms seem too generous or the app promises loans with no credit checks, it’s a warning sign.
Lack of Transparency: Legitimate lenders are transparent about their terms, fees, and interest rates. If there’s ambiguity, be cautious.
High Pressure Tactics: If the app pushes you to take a loan urgently or puts pressure on you, it might be a scam.
Unprofessional Communication: Scammers may not maintain professionalism, they always use abusive language.
Scammers ask for sensitive information while the loan processing. They may request personal documents like Aadhaar cards, PAN cards, and bank details. This information can then be misused for identity theft, fraud, or blackmail.
they take Access permission of your contact list and your phone 📱 photos.
Recovering money lost to these scams can be challenging, but not impossible.
If you are a Victim then You should report the scam to the police’s cybercrime unit and the Reserve Bank of India (RBI). Authorities can investigate and potentially trace the money. It’s important to act promptly, gather evidence, and keep all communication records with the scammers.
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