Accessing online database, the fraudsters identify potential victims and send emails/ SMS or make calls to them to offer loans at a very competitive interest rate and without registration, tax or GST.

Accessing online database, the fraudsters identify potential victims and send emails/ SMS or make calls to them to offer loans at a very competitive interest rate and without registration, tax or GST. The victims get duped when the fraudsters ask for processing fees for the transactions. Once the money is transferred, the phone number and bank account get discontinued.