“So… I never applied for any loan, but suddenly I’m getting recovery calls. What’s going on?”
If you’ve ever found yourself in a similar situation, trust me, you’re not alone.
Over the past few years, India has seen a massive spike in loan-related frauds, and not just from shady loan apps.
We’re talking fake NBFCs, stolen identities, forged documents, and even people getting blackmailed after unknowingly clicking on an ad that said “Instant Loan in 5 Minutes.”
This blog isn’t just a list of links and helplines.
It’s something around cases that we put together based on actual cases, real recoveries, and honest conversations with people who’ve either been cheated or have fought back and gotten justice.
Loan Frauds in India
Let’s start with what we’re dealing with here.
Loan frauds are now the third most common financial scam reported in India, right after UPI frauds and banking scams.
If you’ve missed those, here’s how to report bank frauds in India. Make sure you check them out too.
But coming back to loans, here’s what these frauds typically look like today.
- You receive a message from a “registered NBFC” offering an urgent loan.
- You download a flashy-looking app, fill in basic details, PAN, Aadhaar, selfie.
- You get ₹1,500 disbursed instantly.
- And then, within three days, you’re harassed to return ₹7,000 or face legal threats.
Sounds familiar?
Others don’t even get the money. Their identity is used to take a loan elsewhere, and now they’re stuck with a CIBIL-destroying ghost loan that they never asked for.
Let’s break down what to do and how to report loan frauds in India.
Step 1: Know What Kind of Loan Fraud You’re Dealing With
All loan scams aren’t the same. And how you report them depends on the kind you’ve been hit with. Here are the most common types:
- Fake Loan App Scam
These apps bypass all RBI or NBFC compliance, steal your data, and then harass you. Most of them aren’t even on the Play Store for long, they rebrand every few weeks. - Impersonation Loan (Identity Theft)
Someone used your PAN or Aadhaar to take a loan from a real NBFC. You’ll only know when collection agents start calling. - Fake NBFCs or Loan Agents
These are fraudsters pretending to be authorized agents from real NBFCs like Bajaj Finance or HDFC, offering loans via WhatsApp or Telegram.
Step 2: Report the Loan Fraud to the Right Authorities
Here’s where things get real. Just tweeting or posting on social media won’t help. You need to file your complaint at the right places, with proper documentation.
a) File a Cyber Crime Complaint
Since such frauds are executed online, you can choose to report to the cyber police. To register a complaint:
- Choose the “Report Other Cybercrime” category if it’s a loan scam involving digital apps, WhatsApp, or impersonation.
- Upload necessary documents, like screenshots of chats, call recordings, etc.
- Detail out all the necessary points.
Simple. Clean. Precise.
b) File a Complaint with RBI’s Sachet Portal
If the fraudster claimed to be an NBFC or a loan provider under the RBI, then register a complaint with the RBI.
- Visit the website.
- Fill in all the details.
- Upload proofs.
Step 3: Inform Your Bank and Get a CIBIL Freeze If Needed
If the scam involves misuse of your PAN or Aadhaar, immediately raise a dispute with CIBIL and inform your bank that your identity may have been compromised.
This helps create a record in case fake loans are taken out in your name later.
Step 4: File an FIR If You’re Being Threatened or Harassed
Here’s something many people don’t know: any person who uses communication (SMS, WhatsApp, etc.) to impersonate and defraud you can face jail time.
File an FIR. If the police are hesitant, carry your cybercrime acknowledgement and RBI complaint copy to show that you’re serious.
“But Will I Get My Money Back?”
Let’s be real here. Recovery depends on:
- How early you file the complaint
- Whether the money trail can be frozen (UPI ID, account number)
- If others have filed complaints against the same entity
In some cases, especially where the app is linked to a known shell company, accounts have been frozen, and money has been refunded after months. But yes, it takes persistence.
We have worked on several such cases. So, if you are someone who got trapped in any of the loan frauds in India, then register with us now.
Our team will assist you not just to report loan frauds in India but also in doing proper follow-ups with respective body or individual to get recovery of your losses.
How to Avoid Loan Scams?
Prevention is always better than a cure, and hence it is important for you to be more vigilant to avoid such frauds:
- Never share PAN or Aadhaar on unknown apps — even if it says RBI Approved.
- Always check the NBFC name on the RBI list.
- Don’t trust loan agents on WhatsApp. Real companies don’t text you loan offers.
- If you suspect identity misuse, lock your Aadhaar via UIDAI.
- Raise a Google Play complaint if the app is still live — mass complaints can get it pulled down.
Conclusion
Loan fraud isn’t just about lost money, it’s about emotional trauma, embarrassment, and the mental toll of feeling “fooled.”
But you’re not alone. And you’re certainly not helpless.
Every complaint you file helps build a case. Helps trigger an investigation. Helps someone else stay safe.
And most of all, it helps you take back control.
So if you’re reading this and still unsure what to do, start with one thing: report loan frauds in India by filling the form below. The rest will follow.
