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The Trap: Inside the blackmail scam destroying lives across India - BBC World Service Documentaries

BBC World Service・22 minutes read

Loan apps in India are causing severe harm, with at least 60 people committing suicide due to abuse and blackmail, highlighting the urgent need for exposure and intervention. Fake loan apps lure victims into traps, extracting personal information for extortion, resulting in a cycle of shame, suicide, and even murder.

Insights

  • Loan apps in India are linked to severe harm, including suicides and even murder, as victims face extortion and abuse through fake apps like Asan Loan.
  • The loan app industry in India, characterized by aggressive tactics, exploitation of personal information, and abusive practices, necessitates urgent government intervention and investigative efforts to combat the crisis and prevent further tragedies.

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Recent questions

  • What is the impact of loan apps in India?

    Loan apps in India are causing severe harm, with victims being lured into a trap by fake loan apps that extract personal information for extortion. This has led to cases of suicide, harassment, and even murder due to escalating loans, charges, and threats. The government has identified 600 fake loan apps, highlighting the urgent need for coordinated action to combat the crisis.

  • How do loan apps in India exploit victims?

    Victims of loan apps in India are exploited through abusive tactics such as sending morphed nude photos, harassment, and threats. These tactics are used to recover money, leading to severe distress, humiliation, and trauma for the victims. The cycle of shame, suicide, and even murder caused by loan apps underscores the dark realities of the industry.

  • What role do call centres play in loan recovery?

    Call centres in India, like Callflex Corporation in Noida, are involved in recovering money for loan apps by using abusive tactics. Agents are trained to start respectfully but turn threatening if payment isn't made before closing. Managers train agents to use harassment and threats to pressure customers into repaying loans.

  • How does the loan recovery process work in India?

    The loan recovery process in India involves accessing customers' entire contact lists to apply pressure for repayment. Companies like Navi, a fintech company, use aggressive tactics like threats and abuse to recover loans. Chinese-owned companies are also exploiting Indians' contacts to recover loans, leading to tragic consequences.

  • What is the future outlook for digital lending in India?

    Digital lending in India is a booming industry, with significant market growth expected by 2023. However, the prevalence of abusive tactics and exploitation by loan apps raises concerns about the impact on individuals and society. The need for transparency, regulation, and intervention in the industry is crucial to prevent further harm to vulnerable individuals.

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Summary

00:00

Loan app abuse leads to suicides and murder

  • Loan apps in India are causing severe harm, with at least 60 people committing suicide due to abuse and blackmail.
  • Victims are lured into a trap by fake loan apps, which extract personal information and use it for extortion.
  • Bhoomi Sinhaa faced a nightmare of escalating loans, charges, and threats, leading to severe distress.
  • Asan Loan app resorted to sending morphed nude photos of Bhoomi to her contacts, causing immense humiliation and trauma.
  • Parshuram Takve, behind Asan Loan, ran a debt recovery operation using abusive tactics that led to suicides.
  • Mounika, a victim of loan app harassment, tragically took her own life, leaving her family devastated.
  • Gauri, pressured by loan app threats, allegedly murdered her grandmother for jewelry to repay loans.
  • The government identified 600 fake loan apps, prompting calls for coordinated action to combat the crisis.
  • The relentless cycle of shame, suicide, and even murder caused by loan apps underscores the urgent need for exposure and intervention.
  • Investigative efforts, including undercover work by insiders like Rohan, are crucial in uncovering the dark realities of the loan app industry.

24:17

Loan Recovery Tactics in Indian Call Centers

  • Callflex Corporation in Noida is a call centre recovering money for loan apps like PaySense.
  • Calls start respectfully but turn threatening if payment isn't made before closing.
  • Agents are trained to use abusive tactics to recover money, including threats and harassment.
  • Rohan, an insider, reveals how agents are instructed to abuse and harass customers.
  • Managers like Vishal Chaurasia train agents to use abusive tactics to recover loans.
  • Loan recovery involves accessing customers' entire contact lists to apply pressure.
  • Digital lending in India is a booming industry, with significant market growth expected by 2023.
  • Navi, a fintech company, uses aggressive tactics like threats and abuse for loan recovery.
  • The loan app scam involves Chinese-owned companies exploiting Indians' contacts to recover loans, leading to tragic consequences.
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