Noida police on Wednesday arrested 12 people for their involvement in an instant loan-cum-extortion racket that was being run using Chinese loan apps. The accused used to extort money from the victims by threatening them with morphed obscene photos. The police recovered 36 desktops, 15 laptops, Rs 1.50 lakh in cash along with 8 mobile phones and other items. Local gangs have been using the modus operandi of Chinese loan apps to offer people fast loans with minimal paperwork and entrap them in online frauds. Loan App Scam: Rs 500 Crore Sent to China By Hawala Route; 22 Indians Arrested.

Chinese Loan App Fraud Busted in Noida:

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