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Instant loan app scam: CID confirms that there is a China link

Earlier this week CID arrested a Chinese national and three members of a gang in an instant loan apps fraud case at Cyberabad.

December 27, 2020 / 06:54 PM IST

Criminal Investigation Department (CID) is investigating the alleged data theft by instant loan apps claim that they have sufficient circumstantial and scientific evidence to link the fraud case to China.

According to a Times of India report, officers probing the case said that the application server of the app is based in China. In addition, directors of three of the four companies recently raided by CID are also from there.

“Operations of the companies which were raided are controlled from China. This includes handling of the hacked mobile phones’ data,” Superintendent of Police, CID-cybercrime, MD Sharath, was quoted as saying.

Earlier this week CID arrested a Chinese national and three members of a gang in an instant loan apps fraud case at Cyberabad.

Cyber Crime Police, Cyberabad raided a call centre named "Cubevo Technology Private Limited" (Skyline) located in the city. It was headed by a Chinese national.

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Four members including another Chinese national were arrested, ANI reported.

As per the police, its head office is located in Delhi is named "Skyline Innovations Technologies India Private Limited"

It is registered in ROC, Gurgaon and its Directors are Zixia Zhang and Umapati Ajay.  The company developed 11 Instant Loan applications which offer loans to individuals and collect huge repayments (including interest, processing charges, GST, Default charges and once loan period is over they charge 1 percent penalty) and also resort to systematic abusing, harassing, threatening of the defaulters through call centres run by them.

With inputs from ANI
Moneycontrol News
first published: Dec 27, 2020 06:54 pm

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