The Cybercrime Wing of Federal Investigation Agency (FIA) Tuesday initiatedinvestigations against the loan-giving mobile applications that allegedlyblackmailed the cell phone users into returning the loans at high markupunder the threat of leaking their personal data.
Applications including Barwaqt, PK Loan, Easy Loan, and Fast Loan have comeunder the radar of the FIA.
The FIA sources said that those applications offered loans to the mobilephone users on the promise of two to six per cent markup.
The sources added that those applications then got access to the personaldata of the mobile phone users and blackmail them into returning the loansat 40 per cent markup.
“They threaten to leak the photos of the debtors if they refuse to pay thehigh markup. They also get access to the number of the relatives of thedebtors and blackmail them,” they stated.
Read Top Stories
“The teams of these applications also approach the debtors and extort moneyfrom them in the name of settling the matters. Women are preferred to menfor the provision of loans,” they added.
The FIA Cybercrime Wing initiated investigations after receiving severalcomplaints from women.
