The public has been warned by the Cyber Crime Wing about the rising threat of fake loan apps being used for extortion by scammers. Apps like ‘Prime Lend’ and ‘Candy Cash’ have been identified as tools that scammers are using to exploit individuals for financial gain.
These malicious apps, once installed, request access to a user’s contacts, gallery, SMS history, and phone data. This then allows scammers to not only access but also misuse personal information. Once individuals take out loans from these apps, the scammers demand unreasonable repayments. If the victims refuse to comply, they are subjected to relentless harassment and blackmail tactics. These tactics can include threats of public humiliation and the sharing of morphed obscene images, creating a disturbing and distressing situation for the victims.
The National Cyber Crime Reporting Portal has seen a significant increase in complaints related to fraudulent loan applications. In 2024, 9,873 complaints were registered from Tamil Nadu alone. As of 2025, 3,834 complaints have already been reported to date, indicating a worrying trend of this type of cybercrime.
Authorities are urging the public to be cautious and vigilant when downloading and using financial or loan-related apps. It is important to thoroughly research and verify the legitimacy of these apps before sharing any personal information or taking out loans. Additionally, individuals are advised to report any suspicious activity or encounters with fake loan apps to the relevant authorities to prevent further exploitation.
In light of these concerning developments, it is crucial for individuals to prioritize cybersecurity and take proactive steps to protect themselves from falling victim to such scams. By staying informed and staying cautious online, individuals can reduce their risk of becoming targets for scammers who seek to exploit them through fake loan apps.