Hyderabad, Apr 28 (PTI): A director of a financial
services firm, connected to a money-lending app, has been
arrested in Bengaluruin connection with a probe into instant
app-based lenders allegedly harassing borrowers, Hyderabad
police said on Wednesday.
In continuation of the arrests made in such cases, cyber
crime police on Tuesday arrested the 24-year-old accused,who
is one of thedirectors of a financial services company, a
press release from the city police said.
On further investigation, police identified the accounts
associated to all the fraudulent money-lending companies and
froze about Rs 400 crore, the release said.
The Telangana police, who had launched a crackdown against
instant money-lending apps firms, said the lending companies,
through instant loan apps, offer loans to people and levy
huge interest and processing charges, among others.
They then resort to systematically abusing, harassing and
threatening the defaulters through the call centres operating
from across the country.
Six cases of suicides, due to harassment by such
companies, were reported in Telangana since December 2020.
The State police have registered over 50 cases and
arrested over 30 people, including fourChinesenationals, so
far even as the Enforcement Directorate is also probing into
the FIRs. PTI VVK
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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