What is this scam?
Messages offer instant pre-approved loans with no documents or CIBIL check. The app takes access to your contacts and photos, charges huge hidden fees, and later threatens or morphs photos to extort money.
What the message looks like (example)
Congratulations! Pre-approved loan of Rs 50,000 credited in 5 minutes. No CIBIL, no documents. Download app: http://bit.ly/xxxx
🚩 Warning signs
- No documents and no CIBIL check
- App download link in SMS (often .apk)
✅ What to do
- Borrow only from RBI-regulated banks/NBFCs. Check the lender on the RBI website.