Priya
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New Delhi. There are many types of frauds in the world. Many times frauds happen through lottery messages on mobile, while cases of fraud through OTP have also become common now.
Apart from this, frauds also happen through misleading advertisements. In these advertisements, it is claimed that the company is giving cheap loans or that you can get a loan without a credit score.
In the greed of getting cheap loans , people take loans from these companies and later regret it. In such deceptive loans, the company either charges high interest rates or also takes hidden fees about which the company does not inform the customer. Many times the company even absconds after collecting money from people.
The number of such loan frauds is very high in the NBFC sector. To avoid such frauds, the Reserve Bank of India (RBI) has given some methods in its booklet.
How fraudsters commit fraud
Fraudsters send emails or messages with offers and ask the borrower to contact them to avail the offer.
For this, fraudsters create a fake email ID of a senior citizen of some famous NBFC.
Borrowers fall for these fraudsters because of the offer. Now the fraudsters take money from them in the name of various charges like processing fees, GST, intercity charges, EMI etc. and run away without giving the loan.
When people search for details about the loan or the company, fraudsters create fake websites for the same on search engines.
Take precautions like this
- The Reserve Bank of India said that the charges levied by the bank or NBFC are deducted from the loan amount itself. This means that there is no need to pay separately for such charges.
- Apart from this, NBFC/Bank never charges any processing charges for the loan.
- Never make any payment to any company that claims to provide you loans online at cheap rates. Don't even give them any secure credentials.
- You should always check whether the company from which you are taking the loan is listed with RBI or not.
What is RBI's suggestion
- If you ever see any such misleading advertisement, you should first research about it. You must read their website and reviews.
- Be careful of advertisements coming on social media or email. Chances of getting fraud through these advertisements are very high.
- You should never give out personal details. NBFCs or banks never ask for personal details before applying for a loan.
If you ever see such fraudulent advertisements, you should report it to the appropriate authorities. You can lodge a complaint with the cyber cell of the local police station. Apart from this, you can also report on RBI's Sachet portal (https://sachet.rbi.org.in).
Please share all the information you have regarding the advertisement so that strict action can be taken against it.
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