Instant Loan Apps: Hyderabad Police Arrest Three People From Bangalore Call Center

Hyderabad police on Friday arrested three people from Bengaluru in connection with their repression against digital lending platforms. Following the raids in Gurgaon and Hyderabad, cybercrime police officials located two call centers in the HSR Layout area of ​​Bengaluru. These call centers employed 350 people who harassed and humiliated clients who failed to repay their loans.

Up to 27 cases are registered so far at the Cybercrime Police Station in Hyderabad. Dozens of similar cases are being recorded statewide and the investigation is ongoing. Police found 42 mobile apps used to offer instant microloans. All are managed by four companies: Liufang Technologies Pvt Ltd, Pin Print Technologies Pvt Ltd, Hotful Technologies Pvt Ltd. and Nabloom Technologies Pvt Ltd.

“So far 350 virtual accounts / bank accounts have been recognized in the Razorpay payment gateway relating to the aforementioned five companies and an approximate amount of Rs 87 crore has been frozen in said accounts,” a press note said.

Those arrested were identified as K Eswar, director of Anniu private limited, Madhusudhan, senior director of Truthigh private limited and Satish Kumar, director of Truthigh private limited.

All four companies were found to be linked to instant microcredit apps used by the deceased in a suicide case registered at three police stations.

Hyderabad police have so far arrested 14 people at seven call centers in Hyderabad, Gurgaon and Bengaluru.

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