Customers can avoid falling into rapid loan traps by following a few safety tips provided by the largest lending bank in India, State Bank of India. In addition, cybercrime.gov.in is where the SBI encourages people to report crimes online. The central government is taking a number of measures to stop fraudulent Chinese rapid lending applications, which are causing controversy.
In addition to trapping borrowers in high interest rates and employing unethical loan extraction methods, the proliferation of rapid lending apps contributes to an increase in cybercrime.
SBI posted an infographic to its official Twitter account with the following message: “Please refrain from clicking on suspicious links or giving your information to a company posing as a Bank or Financial company.” Cybercrime should be reported at http://cybercrime.gov.in.
SBI has shared the following six safety tips:
- Before downloading an app, it’s preferable to confirm its legitimacy. Numerous illegal apps have the capability of capturing users and stealing funds from their accounts.
- Don’t click on suspicious links.
- As was previously mentioned, it is best to avoid using unlicensed applications that could steal your data.
- Check the app permission settings to ensure that no data is stolen.
- Any questionable apps for lending money should be reported to the police in your area.
- Visit http://bank.sbi for all of your banking needs.
