hyderabad cyberabad police commissioner v c sajjanar answers queries from toi readers on why it isnt advisable to borrow from instant loan apps what precautions need to be taken while accepting job offers online and how to report financial fraudsq i joined goodlife sports and infra projects in september 2020 in response to an advert on job portals while the company over the months hired more employees they have laid off most of them now without paying a single rupeeread alsohow instant loan apps became a death traptaking advantage of the lockdown that resulted in many becoming jobless rogue firms lent money at skyhigh ratesnow we realise it is a fraud business can you take action against them also how does one know whether a company advertising for jobs online is genuine or not rajender ka if you have lost money and feel that it was a fraud please approach the nearest police station and file a complaint check the company website and registration details on opensource websitestools also check the company reviews also to check the credentials of a company i suggest one verifies in person on receipt of any offer letter through email if the company charges in advance for providing a job then it is a fake company and job q i loaned 10000 from loangram a loan app and even returned the money yet they did not update it on their systems and called my contacts and abused them eventually i had to borrow the amount from other apps to pay loangram even then they havent updated it and are still harassing me how does one get out from this vicious cycle please advise mukesh kumar rai a borrowers are advised to raise a complaint with cyber crime police station for any kind of harassment by loan apps and advised not to take any decision in haste both indian nationals and some chinese nationals with local support have developed these instant loan applications a comparison of both depicts that loan apps developed by indians are collecting two mobile numbers as reference whereas apps developed by chinese take full access of the contacts on installing the application subsequently the heads of these chinese applications are setting up call centers in local regions hiring locals as telecallers to call their customers and their contacts harassing them for payments genuine loan providers never offer money without verifying documents in your case please approach the local police station with all information on loan repayment and harassment meted out to you and your family members and file a caseq is there a checklist one should follow while applying for a loan on these apps suresh kumara the instant loan providers have a tie up with nbfcs non banking financial company to provide loans this is because the rate of interest is very high and repayment period is less as compared to other reputed banks it is advised to avoid taking loans from these applications as they charge