Fraud With Flipkart Mortgage Calls: Be Cautious While Taking A Virtual Mortgage, Keep These 6 Important Things In Mind

A postmaster in Ludhiana district of Punjab has become the victim of an online fraud of Rs 87 thousand. The teenager had applied for a mortgage of Rs 2 lakh through the Flipkart app. After this, he was called by a caller from an unknown number. The caller claimed to be a Flipkart app consultant and requested the teenager for financial institution information with a verification call. As soon as the account information has been received, the caller cheated the teenager of hundreds of rupees. Actually it turned out to be a call from a cyber criminal.

Taking a mortgage on-line on this virtual world is simple. Nowadays there are some apps through which you can take a mortgage of lakhs while sitting at home. However, incidents of fraud are also coming to the fore each day in terms of loans. In such a situation, the query arises that how correct is it to take a web mortgage and how trustworthy are such mortgage apps.

So, let’s get into a new perspective on how accurate it is to take a loan from a web application. Also, we can understand that-

What are the things to keep in mind while taking a loan?
How to find trustworthy loan apps?

Expert: Pawan Duggal, Cyber Expert, New Delhi

Question-1: How did the Ludhiana teen become a victim of online fraud?

Answer- The caller told the teen that your KYC verification is not always complete. That is why you are not getting a loan. After this, the caller sent a link to the teen. By clicking on it, he was redirected to the request to fill the online KYC form. Finally, the caller asked him to pay Rs 5 for the verification call.

When the teen paid five rupees, Rs 86,998 turned out to be deducted from his financial institution account. After this, the caller disconnected the decision and switched off the phone. Now the victim has complained it to the police.

Question-2: Due to which mistake the victim has become a victim of this scam?

Answer- It turned out to be the victim’s error that he trusted the caller and transferred the cash as step by step with his instructions. Due to this, his financial institution information reached the scammers and the little man became a victim of fraud.

Question-3: Does Flipkart App give loans?

Answer- Yes, absolutely. Flipkart App offers loans starting from one thousand rupees to 10 lakh rupees. For this, it offers about 10% to 22% hobby in step with Enem. It depends on your credit score score, mortgage quantity, and mortgage length.

Question-4: What is the way to take a mortgage from Flipkart?

Answer- The entire process of taking a mortgage on Flipkart app is on-line. Anyone can look for it from their cellular sitting at home. There are some mandatory phrases and conditions for this.

Question-5: What do RBI’s guiding principles say about mortgage apps?

Answer- Reserve Bank of India (RBI) has made some policies related to mortgage apps. According to RBI, mortgage apps should be a regulated entity (RE) with a financial institution or NBFC (Non-Banking Financial Company). That is, the organization should be diagnosed with the assistance of using RBI.

So, before taking a mortgage from any app, it is important to see which financial institution or NBFC is associated with the app. Also, no app can give mortgages with KYC.

Question-6: How appropriate is it to consider on-line mortgage apps?

Answer- Cyber expert Pawan Duggal explains that it depends on which app you are using for a mortgage. Is that app recognized with the assistance of using RBI. If you are taking a mortgage from an app that is not always RBI recognized, trusting such apps can be risky.

Question-7: Why is it important to study the phrases and conditions of a mortgage app?

Answer- The phrases and conditions of a genuine mortgage app are absolutely clear. It includes some records approximately hobby rate, mortgage length, and additional costs.

Also, records approximately what penalty can be charged if the mortgage is not on time is likewise recorded. Therefore, the phrases and conditions should be studied carefully before taking a mortgage.

Question-8: What are the things to be stored in thoughts while taking a mortgage from on-line apps?

Answer- In this virtual age, all the centers of the financial institution were in cellular. Transactions really well worth lakhs can be done with just a click. It is so simple that you can avail it 24*7.

Loan apps have made it even easier. Now you can take a mortgage of lakhs in minutes sitting at home. For this, you do not want to go to the financial institution anymore. However, it is very important to take unique care of some matters while using for a mortgage. This assists in keeping you away from turning into a victim of fraud.

Question-9: How can fake mortgage apps be identified?

Answer- Cyber expert Pawan Duggal says that if any app is luring you with low hobby, then it is able to be fake. The motive of such apps is to blackmail you with the assistance of stealing your data. So, before taking a mortgage from any app, find out whether that app is genuine or not. Understand it with the signs given under-

Fake mortgage apps paintings in an unauthorized and unlawful manner.
They borrow non-public and economic statistics of a character.
In those apps, the personalization of the character is not always taken care of.
These apps are made most effective for fraud and forgery.
These apps no longer have any license or registration number.
These apps have uncertain terms and conditions.
Fake mortgage apps no longer have any customer service team.
They regularly offer unusual and uncertain loan terms.

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