There is a new kind of cyber fraud being reported in newspaper and one of my friend is also victim of it. There are apps on Play Store which provides short term loans in simple manner without any paperwork or so. First they disburse the loan after deducting upfront interest

Once you accept the app permissions, they get all your contact list, media files and other personal data. Now after disbursing the loan, they start charging exorbitant rates of interest and if one denies to pay, they start calling people in contact list in abusive manner

At first, they ruin the image of the person by calling him as a defaulter who took loan from them and now not paying them back. Then they start abusing them. Then they make whatsapp group of family members and do the same. They even use personal media files to blackmail.

This is one case.

Chinese loan apps harass India's low-wage borrowers for repayment during lockdown - Business Insider https://www.businessinsider.com/india-lending-apps-threats-google-play-store-2020-5

Chinese loan apps mushrooming in India, threaten borrowers with social shaming, harassment, FIRs https://www.nationalheraldindia.com/amp/story/india%2Fchinese-loan-apps-mushrooming-in-india-threaten-borrowers-with-social-shaming-harassment-firs#aoh=16076920893743&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s