Two managers of ‘instant loans’ enforcement firm detained for harassing clients
Detectives Attacked Four Companies – Mad Elephant Technologies Pvt Ltd, Borayanxy Technologies Pvt Ltd, Profitise Pvt Ltd and Wizzpro Solutions Pvt Ltd After Receiving “Harassment” Complaints From Customers
Bengaluru: The Karnataka Police CID on Thursday arrested two senior officials, including the CFO, of an “instant mobile loan application” company who allegedly harassed their clients for non-payment of loans.
According to the CID, they attacked four companies – Mad Elephant Technologies Private Ltd, Borayanxy Technologies Private Ltd, Profitise Private Ltd and Wizzpro Solutions Private Ltd after receiving complaints of “harassment” from customers who were charged a whopping 36 percent interest on hand. loan in the amount of Rs 9,000 to Rs 15,000 for a period of one week or two weeks.
CID said it seized laptops, cellphones and other documents from the companies. Significantly, all of these apps appear to be built on a single SDK, which is believed to originate from China.
CID found that these app companies obtained sensitive data, such as contacts and photographs, from clients’ cell phones, and used it to lobby them to secure repayment of loans.
He also said that the way these companies operate was quite similar – they used to hack their defaults’ mobile phones and create a WhatsApp group including relatives and friends of customers and slander customers by sharing their photos. with tags such as ‘Chor’, ‘Faulty’, ‘Fraud’ and ‘420’.
On top of that, these company agents used to force these defaulters to borrow again from other similar mobile lending apps and thus put them in a debt trap, CID said.
A CID official, speaking on condition of anonymity, told IANS that most of these apps are said to have been developed with the help of Chinese funding and that each of these companies has developed multiple apps to disburse loans. .
The officer added that loan collectors also used fake SIM cards to harass defaulting customers. “Most of these applications are cloud-based systems accessed and monitored by neighboring countries (China),” the official said.
The CID statement also revealed that the harassment was to some extent if the offender is female, the debt collector didn’t even shy away from soliciting sexual favors. “In some cases, recovery officers had even threatened physical and sexual assault,” he said.
CID called on people to come forward to file complaints against such an instant loan through mobile phone apps.