"Your loan of ₹2,00,000 is on track. KYC processing is happening now."
Ever received a message like this, even if you haven't applied for a loan?
Scammers use fake loan apps, cloned messages and social pressure to trick people into “accepting” loans, handing over OTPs or installing malware, and then harassing or blackmailing victims for repayment. These apps and tactics are widespread and often run from outside India.
What's A Loan Scam?
Fake loan apps: Apps that promise instant cash but are not registered with lenders. They may push you to install APKs and then harvest your data, or charge you unlawful fees.
Unsolicited “loan received” messages: You get a WhatsApp/SMS saying a loan was disbursed to you (you never applied). Scammers then demand repayment or try to extort you.
Blackmail after “approval”: Some apps force access to your contacts or photos and then threaten to share or edit images to coerce payment. Victims report pressure, threats and account misuse.
Red Flags
- A message or call claiming you were given a loan you never applied for.
- Requests to install APKs or apps from unknown sites rather than official stores.
- Pressure to share OTP, UPI PIN, bank details or scanned ID to “verify” the loan. Legit lenders never ask for OTPs or PINs.
- Aggressive follow-ups, threats, or attempts to contact your friends/family if you refuse.
How To Avoid These Scams
Don’t install APKs from links in messages. Only use Google Play/App Store or the lender’s verified website.
Verify via official channels: check your bank using their official customer care number, and not the number in the suspicious message.
Never share OTPs, UPI PINs or passwords. Banks or lenders will not ask for these to “confirm” a loan.
Check app reviews and permissions: fake apps often have few real reviews and ask for intrusive permissions (contacts, gallery).
Use two-factor authentication and strong passwords; enable transaction SMS alerts and monitor your bank account regularly.
Do not engage with the extortion demand. Preserve the evidence and report immediately to the cybercrime and the police.
Next Steps If You're Targeted
Don’t pay; paying a small amount rarely stops abuse: It often encourages more extortion. Victims are advised not to send money.
Block the numbers and preserve evidence: save screenshots, message logs, call records and any suspicious app files. These help police and banks.
Contact your bank/UPI provider immediately: ask them to block transactions, freeze cards, or trace suspicious transfers. Change passwords from a clean device.
Report to cybercrime/police: file a complaint with local police and use India’s National Cyber Crime Reporting Portal (or your city’s cyber cell). Keep the complaint/transaction reference number.
Alert contacts if your phone or account is being used to spam others: Scammers often forward malicious messages from compromised accounts.
If you come across a suspicious app or download link, don’t panic. Send it to BOOM’s Tipline (7700906588) and we’ll verify it for you.