“Instant loan apps have a threat of leaking sensitive information, and the government should be aware of that because most of the apps are run by Chinese companies,” Reddy said.
Published Date – Mon, 12 Dec 22 at 01:30pm
New Delhi: Vijay Sai Reddy, member of the YSRCP, raised the issue of fraudulent instant loan apps operated by Chinese companies in India.
“Instant loan apps have a threat of leaking sensitive information, and the government should be aware of that because most of the apps are run by Chinese companies,” Reddy said.
He said the police had only arrested Indian operatives and the companies were doing business in China and also doing business without the RBI’s permission.
Last month, the Intelligence Fusion and Strategic Operations (IFSO) unit of the Delhi Police Special Unit arrested two people, including a Chinese national, for extorting money from people through instant loan applications, an official said on Wednesday.
The defendants have been identified as Yu Zhang, a Chinese national, and Vineet Jhaver, a Haryana resident, who are behind the racketeering.
More than Rs 150 crore has been stolen from the accounts provided by Vineet and Zhang so far, the police said.
In August, the IFSO unit breached various modules of China-linked instant loan applications and arrested 22 people for allegedly transferring Rs 500 crore to China via the hawala route or by investing in cryptocurrencies.
