Telangana Police crack down on instant loan apps, 17 arrested

Hyderabad, Dec 23 : In a crackdown on instant personal loan apps, Telangana Police arrested 17 people in raids conducted in Hyderabad and Gurugram.
While Hyderabad police arrested 11 people in raids in Hyderabad and Gurugram, remaining were taken into custody by Cyberabad police during raids in Hyderabad.
The action came after three persons committed suicide due to harassment by the employees of online loan apps last week. A techie and a woman government employee were among those who ended their lives.
City Police Commissioner Anjani Kumar said four companies had hired around 1,100 executives to run the multi-crore illegal businesses through which thousands of people were victimised across the country.
The companies were identified as Liufang Technologies Private Ltd, Hotful Technologies Private Ltd, Pinpoint Technologies, and Nabloom Technologies Private Ltd and were registered in Bengaluru.
The police chief said that the Cyber Crime Police Station had recently registered nearly 16 FIRs pertaining to issue of loans by alleged unauthorised loan apps and harassment of the victims by the companies running the apps through their call centres.