among the 14 people detained in the past three weeks were two Chinese language translators and cryptocurrency used to steal money.
An international loan app scam that duped a number of people out of more than Rs 300 crore has been exposed: online policing
Cyber police officers from Mumbai’s Crime Branch have exposed a “international loan app fraud” in which at least 14 people were detained in June and July after defrauding many Indians out of between Rs 300 and Rs 350 crore, according to the police. At least six of the accused were bitcoin users, which they believe was done to transfer funds to the “masterminds sitting abroad,” according to their statement.
An international loan app scam that duped a number of people out of more than Rs 300 crore has been exposed: online policing
Since last year, thousands of people in India have been victims of lending applications that are operating unlawfully, which has prompted the Reserve Bank of India (RBI) to start the process of developing new regulations to address the problem.
The magnitude of the deception was brought to light by the suicide death of a salesman, Sandeep Korgavkar, 38, on