Scam watch — Special Loan app
Eighteen-year-old Ravi was like many others his age, balancing his time between studies and social media. He often found himself scrolling through Instagram, captivated by the posts and stories. One day, while browsing, he came across an advertisement for a loan app called “Special Loan App.” Ravi had been looking for ways to earn some quick money, so the ad caught his attention.
Intrigued, he clicked on the ad, but noticed that the app wasn’t available on the Play Store or App Store. Despite the red flag, Ravi proceeded to download and install it through the browser. During installation, the app requested various permissions — access to photos, camera, location, and contacts. Without thinking much of it, Ravi granted all the permissions.
Once the app was installed, it asked for his PAN card number to check his eligibility. Ravi entered his details, and the app immediately informed him that he was eligible for a loan of 3000 INR with a duration of 10 days. In need of money, Ravi provided his bank account details and, shortly after, received 2700 INR — the remaining 300 INR deducted as interest.
However, just two days later, Ravi received a call demanding repayment of the loan. The caller threatened him, stating that if he didn’t repay the money immediately, he would face serious consequences. Nervously, Ravi tried to negotiate for more time, but the threats became more sinister. The caller mentioned that they had access to his photos and contacts and would morph his images and send them to his contacts if he failed to comply.
Feeling trapped, Ravi paid back the amount. But the calls didn’t stop. The scammers continued to demand more money, each time with more threatening messages about morphing photos of his family members and sending them to his contacts. Ravi found himself in a cycle of constant payments, each time hoping it would be the last.
Desperate and scared, Ravi finally confided his parents, who immediately took action. They reported the scam to the cybercrime authorities. With the help of experts, Ravi was able to secure his devices and block the app’s access. The authorities launched an investigation to track down the perpetrators behind the scam, However the money paid to scammer’s is long gone and no trace of it yet.
How to Avoid This Type of Scam
1. Do Not Install Applications Not on App Store or Play Store: Always download applications from trusted sources like the Google Play Store or Apple App Store. Apps from unofficial sources can be harmful and untrustworthy.
2. Limit App Permissions: Only grant permissions that are essential for the app’s functionality. Be cautious about apps requesting access to your photos, contacts, camera, and location without a clear purpose.
3. Contact Cybercrime Helpline: If you suspect any fraudulent activity, report it immediately to the cybercrime helpline at 1903.
4. Seek Professional Advice: For expert advice and assistance, contact us at support@getsecure360.com.
