New Delhi (The Hawk): Vijay Sai Reddy, a YSRCP member, brought up the topic of instant loan app scam carried out by Chinese businesses in India.
Since the majority of the applications are run by Chinese corporations, Reddy added, "The instant loan app threatens to disclose critical information and the government should take care of this."
According to him, the companies were functioning out of China and were also carrying out their operations without the RBI's consent. The police had only detained Indian operatives.
An official stated on Wednesday that two people were detained by the Intelligence Fusion & Strategic Operations (IFSO) Unit of the Delhi Police's Special Cell last month for using rapid loan applications to extort money from people. One of the detained individuals was a Chinese national.
The defendants have been named as Vineet Jhaver, a citizen of Haryana, and Chinese national Yu Zhang, who was the brains behind the extortion ring.
According to the authorities, Vineet and Zhang's accounts have been used to syphon off more than Rs 150 crore thus far.
22 people were detained in August of this year after the IFSO unit discovered several modules of rapid loan applications with a Chinese connection and reportedly stole Rs 500 crore by using the hawala system or investing in cryptocurrencies.
(Inputs from Agencies)