Online financial fraud case: Hyderabad police bust call centre, arrest three

The three accused had developed online instant loan lending app and forced customers to repay the loans at a higher interest rate of 50% against the RBI laws and they resorted to systematic abusing, harassing, threatening of the defaulters. Police found out that the accused used 16 application to extort money from victims.

Hyderabad: Rachakonda police busted into a call centre, Jiya Liang Infotech private limited and arrested three including a Chinese citizen as part of online financial fraud case. The accused had allegedly developed online instant loan lending app and forced customers to repay the loans at a higher interest rate of 50% against the RBI laws and they resorted to systematic abusing, harassing, threatening of the defaulters. They were alleged of blackmailing the borrowers by sending fake legal notices to their relatives and family members.

Cyber Crime Police Station, Rachakonda had registered two cases against these loan applications in the recent past. The police have also been trying to ascertain if these applications are linked to any petitions/complaints registered in the Commissionerate.

Victim's account was credited with Rs 26,000 while he asked for Rs 4,500. The fraudsters, after gaining personal information from the victim's phone, abused and harassed victim's relatives, pressurising them to repay the loan with Rs 44,000 in a week.

Upon analysing bank statement, it was found out that the amount got credited from different mobile applications including Bubble loan, Rupee Bazar, Ok cash, rupee factory, Paisa Loan, One hope, Cash bee, In Need, Snapit loan, Cashalo, Piggy bank, Krazy Rupee, Real Rupee/Rupee Bear, Rupee Most.

Complainant on enquiry revealed that the non-banking finance business was established without valid licenses from RBI/concerned government authorities.

Sources said that in order to establish the company, laptops, personal computers and network routers were procured from China. The company executed a business agreement with Bienance Infrastructure Technology, West Mumbai, Ajaya Solutions Pvt. Ltd, Thane, Mumbai and Taelde Technology Pvt. Ltd, Mysore, Karnataka for providing Tele caller services for the recovery of the loan payment dues.