How To Protect Yourself From Loan Apps In India?

How To Protect Yourself From Loan Apps In India?

With an increasing number of people in India continuing to fall victim to the ever-present threat of loan apps and the harassment tactics of their recovery agents., cybercrime experts advise conducting a quick internet search before downloading an app because it could go a long way toward ensuring your safety.

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Many victims of loan app harassment began posting complaints online as the harassment from these apps worsened. People began sharing their woes on social media pages and discussion forums that were eventually created on several apps. Today, there are forums or pages for most of these apps that have been found to use sextortion and other illegal tactics to force the victims to pay.

Before installing any loan app,

performing a quick internet search for the app’s name is always a good idea. Many details about the app’s agents’ ancestry, obtained directly from the victims, are freely accessible online.

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While this step alone can save many people a lot of hassle, there is also a second step where borrowers seeking urgent loans may want to look for warning signs: the permissions requested by an app. Any app that requests access to your contacts list or media files must be uninstalled immediately. Remember that banks will only ask for your information when approving a loan; they will not ask about your family or friends. 

Here, the same idea is relevant and should be kept in mind.

According to officials, this step is crucial because it is only after loan app agents have access to your contacts and photos that they will have the tools necessary to blackmail you in the future. The agents use these details from the victims’ phones in all of their strategies.

Customers can also verify whether a loan application claims to be certified by a Non-Banking Financial Company (NBFC) and then cross-reference that information on the website of the relevant NBFC. Of course, the complete lack of such certification should raise red flags.

Checking the ratings for each app on the website where it is hosted is also helpful. Additionally, another guideline is to see how old the app is. The more time it has been in use, the more reliable it can be. The ones to be on the lookout for are the ones that have popped up recently.

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