Chinese loan apps fraud: Scam leads to financial crisis and loss of jobs
Shortpedia
Content Team
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ED which is conducting a probe into the Chinese loan applications scam case has learnt during its course of investigation that the apps' creators had cheated a number of people during the Covid phase, which led to many challenges, including financial crisis and loss of jobs. The Chinese loan apps offered micro loans to millions of jobless people and then recovered the amount from them by blackmailing them on various pretexts.
