Chinese loan apps are duping lakhs of Indians through its conspiracy of the debt trap. Multiple investigating agencies have revealed that over hundreds of Chinese-controlled apps, including those involved in loan services and betting, siphoned off thousands of crores of rupees from India.
And this has remained largely undetected. And now, has led to a crackdown on hundreds of Chinese-controlled mobile apps related to loans, dating and betting in India.
Most of these apps are controlled from China. Chinese mobile phones clandestinely steal user's information use that data for dirty works. These apps were also involved in extortion and harassment of the public.
The incompetence of the central government and agencies has led to multiple cases of suicides due to such debt traps.
Certain Chinese apps were banned in 2020 but the action on such apps has been lackluster. There has been no strategy, no focus by the central government in evaluating priorities. Public should beware of such Chinese lending apps.
