Hyderabad man loses Rs. 2.1 lakh in fraudulent loan scheme posing as Reliance Capital

Hyderabad: A 51-year-old man from Hyderabad was duped of Rs. 2,10,559 (Two lakh ten thousand five hundred fifty-nine only) after applying for a personal loan through Reliance Capital. The victim, employed in the private sector, became the target of a cyber fraud that began with a WhatsApp call from a person claiming to be a Reliance Capital executive.

According to the cybercrime police, the fraudster asked the victim to share his Aadhaar card, PAN card, and bank statement. After the victim complied, the scammer informed him that he was eligible for the loan and sent a formal letter confirming the same. The fraudster then requested a payment for mandatory insurance fees.

Subsequent calls from the scammer led to several other demands for payments, including GST, processing fees, TDS tax charges, loan completion charges, withdrawal activation charges, and late payment fees. Over time, the victim paid a total of Rs. 2,10,559.

Realising he had been scammed, the victim has now filed a complaint with the authorities, seeking assistance in the matter.

Public Advisory:

To protect yourself from falling victim to similar scams, always download apps from official websites or trusted app stores, such as Google Play Store, and avoid third-party sources.

When applying for loans, ensure the platform is associated with a registered Non-Banking Financial Corporation (NBFC) or a recognised financial institution. Be cautious of fake loan apps that promise quick cash but deceive users.

Before proceeding with any loan application, verify that the lender is approved by the Reserve Bank of India (RBI) and check for the legitimacy of their website, physical office locations, Company Identification Number (CIN), and Certificate of Registration (COR).

Additionally, always review the permissions requested by apps, especially access to contacts, gallery, or other sensitive data. Only grant access to the app permissions that are essential for its functioning.

If you become a victim of cybercrime fraud, dial 1930 or visit www.cybercrime.gov.in. In case of an emergency, contact or WhatsApp at 8712665171 for immediate assistance.