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Mushrooming of loan apps - Warning issued by Chennai Police to the residents

Posted on: 12/Feb/2022 9:08:54 AM
On Friday, 11th February 2022, Chennai police issued a warning to the public regarding loan apps. It must be noted that there are many people who download loan apps and borrow money.

Many loan apps were previously deleted from the apple-stores but in recent times these loan apps have again come up in several names in the play store. This has been noticed by the Chennai police department. Point to be noted is that these loan apps would collect the personal details of the persons accessing their contacts and store those details in the databases.

It is important to note that if any person gets a loan of Rs 5000 then the person would receive Rs 35000 and the remaining Rs 1500 would be deducted as processing fees. Repayment of the loans must be done within 7 days. Mr. Shankar Jiwal, Chennai police commissioner has warned the public not to tale loans through loan apps.

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