The Nagpur Cyber Cell has unearthed a suspected Rs 200 crore fraud in which nearly five lakh people across the country were allegedly duped through the ‘Mast Money App’, also known as the ‘Soft Money App’.
Police have arrested a software engineer from Bhopal, believed to be a key member of the syndicate behind the operation. Investigators said the accused had developed the mobile application, which lured users by offering instant loans of up to Rs 15,000.
Once installed, the application allegedly gained extensive access to users’ mobile phones, enabling the operators to obtain personal information, contact lists, photographs and other sensitive data.
Instead of disbursing the promised loan amount, the accused allegedly extorted amounts ranging from Rs 25,000 to Rs 50,000 from users.
Victims who refused to pay were allegedly threatened with the public circulation of their personal information and photographs on social media platforms. Two residents of Nagpur have already approached the Cyber Cell with complaints of similar harassment.
Police sources said the racket had been operating for the past eight months and targeted users across India while concealing its activities through the use of virtual private networks (VPNs).
After registering an FIR under relevant provisions of the Information Technology Act and sections pertaining to cheating and fraud, a Nagpur Police team traced the operation to Bhopal and arrested the software engineer. He was later brought to Nagpur for further interrogation.
Investigations have revealed that more than five lakh people had downloaded the application, raising concerns over the scale of the alleged fraud.
The Cyber Cell is now working to identify and trace other members of the syndicate and has appealed to affected users to come forward with complaints. Police have also advised citizens to verify the authenticity of financial applications before sharing personal, banking or other sensitive information.
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