Online loan scams: What to do when you are being blackmailed
As easy and convenient as loans apps may seem, they are proving to be a menace to countless people
July 15, 2023
The suicide of an unemployed man in Rawalpindi earlier this week has brought yet another scam to the foreground.
In a rising trend, many scammers are launching "easy loan" applications on Google Playstore and Apple iStore; however, as easy and convenient as the loans may seem — given that they do not require extensive paperwork — these applications are proving to be a menace to countless people.
Recent events have revealed that the applications ask for access to the gallery and contacts of the loanee, and once the loans are given, those behind them reveal their true colours.
During a preliminary Federal Investigation Agency (FIA) investigation, those involved in the setup were given calling targets to make 100 to 150 calls daily.
With access to the gallery and contact list of the loanee, these people not only threatened the loanee's friends and family but also threatened to reveal "inappropriate images" stored in the phone data.
A spokesman for the FIA said that online loan companies had created separate "torture call" cells to threaten those who had taken loans.
Moreover, most of these applications are not certified by the Security and Exchange Commission of Pakistan (SECP), making them unreliable.
Many fraudulent applications also misrepresent the markup, often demanding much more than loanees are initially led to believe once the loans are given.
Registered, unregistered apps
The Security and Exchange Commission of Pakistan (SECP), the financial regulatory authority, has verified that only specific micro-credit apps are legit and registered with the Commission as non-banking financial companies under the Companies Act, 1956.
The registered apps are:
- Muawin
- Credit Per
- Easy PK Loan
- Zoodpay & ZoodMall
- Qisstpay CreditCat
- RazCash
- Abhi
- Barwaqt
- Udhar-Paisa
- Zaroorat Cash
Unregistered apps:
Sr. | Name | Company/Developer |
| 1 | 360 Online Qarz | Mahbubur Technology |
| 2 | 567 Speed Loan | Chunu Technology |
| 3 | 99 Fast Cash Loan | Morsalin Technology |
| 4 | Aasan Lab- Easy Apply Money | Aco Startup |
| 5 | Apple Qist Qarz | Rabeya Technology |
| 6 | Asaan Qarza- credit loans | S&P Fintech |
| 7 | Bee Cash | Superthaliyou |
| 8 | BG Loan: Unsecured Loans | Shakhawat Technology |
| 9 | CashCredit-Online Loan | Tom Edler |
| 10 | CashPro-Immediate Approval | Cashpro Technology |
| 11 | CreditLoan | MHLD studio |
| 12 | CredStar- Personal Credit Loan | Jinglecred |
| 13 | Debit Campsite (Old Name Debt Campsite) | Iqtidar Hussain |
| 14 | DiDi Loans | DidiLoans |
| 15 | Easy Cash Loans | CapitalPoint Limited |
| 16 | Easy Loans Credit Fast Pay | Boj Inc |
| 17 | Easy Mobile Loans | Rapidpay Apps |
| 18 | Fair Loans | Cemens Ltd |
| 19 | Fast Loan | Gibraltar Lea |
| 20 | Fast Manne Loan Guide | Quicksoft Technology |
| 21 | FinMore- Online Credit Loans | Easy Digital Technology |
| 22 | Fori Instant Loans | BorrowN |
| 23 | Fori Qarz Online Personal Loan | Fori Qarz Ltd |
| 24 | Galaxy Loan | Amrit Malwa |
| 25 | Get It Now | Get It Now App |
| 26 | Get Welfare | Naseem Technologies Ltd Muhammad Imran |
| 27 | HamdardLoan | Hamdard Team |
| 28 | Harsha Tube- Quick Money | Harsha Credit Office |
| 29 | Hayar Pocket Easy Fund | Hayar private company |
| 30 | JaidiCredit | Adnan Rahim |
| 31 | LendHome | Susan R Tabor |
| 32 | Little Cash- Mobile Loans | Optipay Limited |
| 33 | LoanClub | Quick Mob Pay Pvt. Ltd |
| 34 | MiniLoan- Personal OnlineLoan | Credito.pk |
| 35 | Money bee | Mr. Arming Saelee |
| 36 | MoneyBox | Ejaz Hasan Mujawar (QistBazaar) |
| 37 | MrLoan | LE THUY DUNG |
| 38 | MY Cash | Arham Sarwar |
| 39 | MyCash | Muka |
| 40 | Naqad Qarza-ABC | Khudeza Technology |
| 41 | Plati Loans | Muhammad Noman Shaikh (Tech Productions) |
| 42 | Private Credit-Online Borrow | Fahad Nabeel |
| 43 | Pyoor Pack-Personal lend (old name: Pyoor Loan) | Pyoor Loan Office |
| 44 | Qarza Pocket-Personal Funds (old name: Qarza Rupee) | Qarza Rupee |
| 45 | QuickCash- Quick Mobile Loans | StarLink-Tech |
| 46 | Rico Box - Easy Apply Online | RT first startup |
| 47 | Rose Cash- Loan Cash | Khalid475 |
| 48 | Sallam Loan- Online Loan App | Paput |
| 49 | Superb Loans | Superb Loans Team |
| 50 | Swift Loans- Fast Loan Disbur | Platinum Developer |
| 51 | Tazza Center- Get Money Soon | Ali Asad Tanveer |
| 52 | TiCash | Tcashwin |
| 53 | UrCash | Muka |
| 54 | Whale | Dev Shubham |
| 55 | YoCash | Ambrose770250 |
| 56 | Zenn Park- Easy Instant Help | Zen Credit Office |
| 57 | ZetaLoan- Easy Credit Wallet | ZetaLoan Team |
| 58 | Money Club | QPAY MBP PVT LTD |
| 59 | Super Magic- StableOnlineLoan | Ganhewalage Anil Desapriya |
| 60 | Easy Pocket | Dev Raja Kumar |
| 61 | Monii Pro - Quick Funds | Monii Loan Studio |
| 62 | Holiday Loan | Rtyfgyau787 |
| 63 | Credit Now - Safe Loan App | CreditNow |
| 64 | EasyLoan Lite- Cash Credit | Aleaty Microfinance (Pvt) Ltd |
| 65 | Haath Pocket | Qarza Rupee |
| 66 | OK wallet | OK wallet |
| 67 | ColeCash | Sickleking |
| 68 | Focus loan | ReadymoneyCS |
| 69 | Loan app pakistan online 2021 | 2DArm |
| 70 | Wcash Loan | Geek Lab |
| 71 | Pakkicash | ThankDeveloper |
| 72 | LuckMoney | LuckMoney |
| 73 | Candycash | Candycash |
| 74 | Pakket Pocket- Instant Money | Pakket Pocket Ltd |
How to approach FIA in case of blackmail
Speaking during Geo News' programme "Aaj Shahzeb Khanzada Kay Saath," FIA Cyber Crime ADG Ahmed Ishaq Jahangir shared several ways victims of fraud and blackmail could contact the agency.
1. FIA website complaint
Victims can report their complaints on the FIA website, and the reporting centres in their city will contact them to assist them.
Complaint portal link: https://complaint.fia.gov.pk/
2. Contact via phone, helpline
The FIA cyber crime wing can also be reached out via their phone number and helpline.
Phone: 051-111345786.
Helplines: 1991
However, Jahangir said that the helpline was currently under construction to connect it with the main FIA helpline
3. Walk-in centres
From Gilgit to Gawadar, 16 major cities have FIA's cybercrime reporting centres, he said. These cities include Lahore, Karachi, Peshawar, Abottabad, Faisalabad, Gujranwala and Multan.
People from these cities can visit the centres for assistance.
Addresses of FIA centres: https://fia.gov.pk/complaints_dept
However, the FIA Cyber Wing ADG added that since the online scam was technical, involving money layering and siphoning, warding of the blackmailers and recovering the money could take some time.
