Delhi Police bust gang that extorted people using fake loan apps, 22 held

In a two-month-long operation, the Delhi Police Cyber Cell busted a fake loan application and extortion gang by arresting 22 persons from the capital and other states. The accused allegedly lured people with fake loan schemes and later extorted money from them using their personal data. The money was sent to their associates in China via cryptocurrency.

During their probe, police Saturday said they found 100 such fake loan apps involved in extortion while the cheated money is between Rs 2,000 crore and Rs 5,000 crore. In the present case, police said the gang siphoned off more than Rs 500 crore. To evade arrests, they were planning to shift their call centres to Pakistan and neighbouring countries. They also used online servers to hide their operations.