Hyderabad: The Hyderabad cybercrime police have issued an advisory asking people to be careful with conmen who cheat people on the pretext of offering loans.
Describing the modus operandi adopted by them, the police stated that scammers pose as representatives of reputable financial institutions or loan companies, for example Dhani and Indiabull Loans.
They contact victims through phone calls, emails, or social media, offering personal loans with low interest rates and flexible repayment terms. Victims are asked to provide personal information, including sensitive financial data, and to pay processing charges, different taxes, NOC and clearance charges to secure the loan.
“Once the victim pays the fee, the scammer disappears with the money, leaving the victim with no loan and compromised personal information,” the police warned.
The police listed out the following warning signs of suspected fraud: Unsolicited loan offers with unusually low interest rates, requests for personal information, such as social security numbers or bank account details and demands for processing fees, taxes and clearance or deposits before loan approval.
The public has been asked to adhere to the following steps to be safe. Be cautious of unsolicited loan offers, verify the authenticity of loan providers with regulatory agencies or financial institutions and never share personal information or make payments without proper documentation and loan agreements.
In case one becomes a victim of fraud they must immediately report suspicious cybercrime activities on helpline number 1930 or on National Cybercrime Reporting Portal: https://cybercrime.gov.in/ .
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