In recent years, there has been rise many more fraud loan app in India. These apps prey on people who are in need of quick cash and loans with attractive terms and conditions. However, once loan is taken, the borrowers are often subjected to harassment and threats by the loan sharks.
If you have been a victim of fraud loan app, there are a few steps you can take to take action.
Identify the Loan App
First step is to identify loan app that you have been dealing/frauded with. This will help you to gather evidence and take legal action against the fraudster.
You can identify loan app by looking at the app’s name, app reivew, logo, and website. You can also check your phone’s app store history to see if you have downloaded the app from legitimate source.
Gather Evidence
Once you have identified loan app, you need to gather evidence of the fraud. This include screenshot of app’s terms and conditions, as well as any communication you have had with loan shark.
You should also keep record of any financial transaction you have made with loan app. This will help you to prove that you have been a victim of fraud.
File Police Complaint
Once you have gathered evidence, you should file police complaint against loan shark. You can file a complaint at the nearest police station or cybercrime cell urgently.
Police will investigate your complaint and take action against the fraudsters.
Contact the RBI
You can also contact the Reserve Bank of India (RBI) if you have been a victim of fraud loan app. RBI is the central bank of India and it regulates the financial sector.
RBI has dedicated helpline for victim of financial fraud. You can call the helpline at 1800-22-7800 to report a fraud loan app.
Take Legal Action
If, police do not take action against fraudster, you can take legal action yourself. You can file a civil suit against the loan shark in court.
You can also file a criminal complaint against the loan shark. This will allow the police to investigate the fraud and take action against the fraudsters.
Block the Fraud Loan App
Once you have taken action against the fraudster, you should block loan app from your phone in urgently. You can do this by going to your phone’s app settings and selecting that loan app.
You should also report that loan app to Google Play Store or Apple App Store. This will help to prevent other people from falling victim to the fraud.
Spread Awareness
It is important to spread awareness about fraud loan app. You can do this by sharing your story on social media or by writing blog post about your experience.
By spreading awareness, you can help to protect other people from falling victim to fraud loan apps.
Be Vigilant
In order to avoid falling victim to fraud loan app, you should be vigilant. Do not give out your personal information/data to anyone you do not trust.
You should also be wary of any loan app that offers you quick cash with easy terms and conditions. These apps are often scams.
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Use Only Reputed Loan App
If you have need to take loan, you should only use reputable loan app. These apps are regulated by RBI and they have good track record.
You can find a list of Reputable Loan Apps on RBI website.
Read Terms and Conditions Carefully
Before you take out a loan, you should read the terms and conditions carefully. This will help you to understand the terms of the loan and the repayment schedule.
If you downloaded the fraud loan app from Google Play Store or Apple App Store, you can report the app to the respective store. This will help to remove the app from the store and prevent other people from downloading it.
Conclusion :Taking action on fraud loan apps can be a daunting task, but it is important to do so. By following the steps outlined in this blog post, you can help to protect yourself and others from becoming victims of these scams.
