MUMBAI: City cyber police have unmasked loan app fraudsters by digging out their photographs posted on social media. The arrest of 14 accused last month, including three women, has helped bust a Rs 350 crore pan-India loan app racket which has defrauded lakhs since 2018.
On Thursday, a look-out circular (LOC) was put out against two Chinese nationals and a few other foreigners-the creators and planners of as many as 200 fake loan apps-after the 14 accused identified them in the photos cyber police retrieved from social media platforms.
