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The number of scams and fraudulent operations targeting internet and smartphone users in India is increasing with a rising number of digital consumers. 

Lack of financial readiness can make people more susceptible to fraud.

Loan frauds may include upfront loan processing charges or unsolicited communication offering quick cash without any requirements.

Legitimate lenders will always analyse the borrower’s credit history before approving a loan. 

Fraudsters may use high-pressure tactics to force decisions on potential customers.

Exercise due diligence while selecting the lender and look out for any red signals.

Never share sensitive information over the phone, email or SMS.

Be cautious and resist the need to fall into strong emotions when considering an offer.

Click here to know more about  loan frauds.

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