Victims lured by the illusion of easy money in a loan scam in India: “I incurred debts in 33 applications”

  • Priti Gupta and Ben Morris
  • From BBC News to Mumbai

Credit, Getty Images

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When Raj took out a $110 loan last March, he thought his financial troubles would be resolved quickly. But that was not the case.

The man, who lives in the Indian city of Pune in the state of Maharashtra, is one of hundreds of victims of the internet lending scam that is growing in the country.

Like many people, Raj (pseudonym) was drawn to the speed and ease of credit approval – all he had to do was download an app to his phone and provide a copy of his ID .

He even received money, but only half of the requested amount. And, three days later, the alleged company began demanding that he pay three times the amount borrowed.

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