China-based Loan Apps That Have Been Hacked Again! : More Than 55 Android Application Entry Warning!

Everyone knows how many people have lost their lives due to the harassment of quick loan applications. Scammers from China are behind most of these malicious apps. Cybersecurity researchers have warned that some Chinese fraudsters are operating illegal instant loan apps to defraud thousands of people in India. According to a report on CloudSEK, these fraudsters are using illegal loan applications with sizable loans and false promises of easy repayment. It is said that after receiving personal information and their fees, they disappear without contact.

Now again such apps seem to have come up. According to current information, more than 55 malicious Android applications are found to be distributed through various means. Researchers identified more than 15 payment systems operated by Chinese individuals involved in this fraudulent network. Chinese individuals are said to be operating these fraudulent payment systems in many countries, including Indonesia, Malaysia, South Africa, Mexico, Brazil, Turkey, Vietnam, the Philippines and Colombia.

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Creating fake instant loan applications, promoting these illegal applications, demanding personal information and processing fee payments and disappearing after payment is an illegal method of Chinese scammers.

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From July to September, these cybercriminals, posing as banks, reportedly collected around Rs 37 lakh through fraudulent Chinese payment systems.