Unveiling the Disturbing Instant Loan App Scam Involving Blackmail with Intimate Photos

A blackmail scam targeting people across India and several other countries in Asia, Africa, and Latin America has been exposed by an undercover investigation by the BBC. The scam involves instant loan apps that harvest personal information from users and use it to extort money. At least 60 Indians have taken their own lives as a result of the abuse and threats they faced. The business model of these loan apps is straightforward – they offer quick loans but also access users' contacts, photos, and ID cards. When customers fail to repay the loans, their information is shared with call centers where agents are trained to harass and humiliate them to force repayment. The abuse can include sending threatening messages, making obscene calls, and even sharing manipulated and explicit images. The investigation uncovered that the scam operates in at least 14 countries and involves numerous apps. Many victims are too ashamed to talk about their experiences, and the scam operators have largely remained anonymous. However, the BBC managed to locate and interview a former debt recovery agent who exposed the systemic extortion prevalent in the call centers. The investigation also revealed the involvement of Chinese companies in operating some of the loan apps and call centers. The scammers commonly target vulnerable individuals who are in urgent need of money, pushing them into a vicious cycle of debt and psychological torment. The Indian authorities have taken action against several individuals involved in the scam, but they face difficulties in prosecuting those who are hiding abroad.