Scam Alert: Cheap loan offer will prove expensive | Loan Offers | Jagran Business- watch video

Some fake applications provide quick short loans without a lot of paperwork but demand high interest rates that are frequently over 100%. When clients are unable to pay back loans on time, they bully them by charging exorbitant interest. When installing most apps, users are asked to give them permission to access their texts, photos, contacts, and even the camera. After then, the apps steal photographs and contact lists and utilise them to harass the victims.

The Mobile Security Framework, a tool to test the security of apps, found that when users install loan apps like Rupeeway, Smart Pokket, and Tytocash, they frequently grant these apps permission to access contact information and even to use the phone's camera, even though some of these permissions are not necessary for the app to function.